China has released a white paper accusing the United States of unilateralism and protectionism, escalating the ongoing trade war between the two nations. The document, titled “China’s Position on Some Issues Concerning China-U.S. Economic and Trade Relations,” asserts that U.S. tariffs and policies are impeding economic cooperation .
China claims the U.S. has imposed tariffs on $500 billion worth of Chinese exports, constituting a unilateral attempt to suppress China’s economic growth.
Washington of containing and suppressing China’s rise through protectionist policies, including restrictions on high-tech exports.
The U.S.-China trade war began in 2018, with President Donald Trump imposing tariffs on Chinese goods, citing unfair trade practices and intellectual property theft. China retaliated with tariffs on U.S. imports, and the two nations have since engaged in a series of escalations.
The current U.S. administration has maintained tariffs imposed by the previous administration and introduced new levies on Chinese goods, such as electric vehicles and solar panels.
The U.S. has restricted China’s access to advanced chips, prompting China to ban exports of key components used in semiconductor manufacturing.
The escalating trade tensions have significant implications for global markets, with experts warning of a potentially prolonged economic conflict. The dispute has also raised concerns about the impact on multinational corporations and the global economy.
