US proposed tariff hikes target China’s industrial development: experts
The proposed U.S. tariff hikes on Chinese products are aimed at disturbing Chinese industrial policies, some Chinese international trade experts said on Wednesday.
The Chinese experts made the comments in response to the U.S. proposed list of products subject to additional tariffs, which covers Chinese exports worth 50 billion dollars with a suggested tariff rate of 25 percent. The U.S.-proposed list covers approximately 1,300 products imported from China from industries such as aerospace, information and communication technology, robotics and machinery.
The list is based on a Section 301 investigation into alleged Chinese intellectual property and technology transfer practices launched by the U.S. administration in August 2017.
“The Section 301 investigation is a unilateral (action), based on the so-called trade imbalance between China and the United States. Its true purpose is very clear. It targets China’s industrial development and wants to disturb our industrial policies and development by means of trade,” said Li Yong, a researcher with the China Association of International Trade.
Dong Yan, director of the Institute of World Economics and Politics under the Chinese Academy of Social Sciences, said that many of the U.S. accusations against China are groundless.
“The Section 301 investigation report raised questions about China’s intellectual property, Internet security, and industrial development plans. After reading the investigation report, we found that many of the queries are based on speculation. The Chinese government does not intervene in relevant companies’ specific practices when drawing plans, and most of the Chinese companies that invest in the United States are privately owned. Private companies make their decisions based on their own business operations, therefore many of the U.S. accusations are groundless,” said Dong.