Ministry of Commerce: urge the US to cancel all additional tariffs imposed on China as soon as possible.

On September 26th, the Ministry of Commerce held a regular press conference. He Yongqian stated that China has always opposed the US's imposition of Section 301 tariffs and has raised objections several times. The World Trade Organization has ruled that the US's Section 301 tariffs violate WTO rules. The recent actions by the US are moving further down the wrong path. The Ministry of Commerce urges the US to objectively and rationally respond to calls from all sectors, and to quickly lift all tariffs imposed on China in order to create a healthy and predictable environment for economic and trade cooperation between the two countries. The text is as follows: He Yongqian: Dear journalists, Good afternoon, welcome to the Ministry of Commerce's regular press conference. Today I have some information to report to you. 1. China's foreign investment cooperation from January to August this year: From January to August 2024, China's non-financial direct investment overseas reached 94.09 billion US dollars, an increase of 12.4% year-on-year. Among them, Chinese enterprises' non-financial direct investment in countries participating in the Belt and Road Initiative reached 20.51 billion US dollars, an increase of 2.2% year-on-year. From January to August 2024, the turnover of foreign contracted projects reached 97.34 billion US dollars, an increase of 5% year-on-year; the value of new contracts reached 149.5 billion US dollars, an increase of 21.1% year-on-year. Among them, Chinese enterprises' turnover in countries participating in the Belt and Road Initiative reached 78.47 billion US dollars, an increase of 3.6% year-on-year; the value of new contracts reached 123.21 billion US dollars, an increase of 18.8% year-on-year. Reporter from Cover News: Minister Wang Wentao of the Ministry of Commerce recently met with European Commission Executive Vice President and Trade Commissioner Dombrovskis at the EU headquarters to conduct comprehensive, in-depth, and constructive negotiations on the EU's anti-subsidy case against Chinese electric vehicles. Can the spokesperson provide information on this? What progress has been made in these negotiations? He Yongqian: On September 19th, Minister Wang Wentao met with European Commission Vice President and Trade Commissioner Dombrovskis at the EU headquarters and conducted comprehensive, in-depth, and constructive negotiations on the EU's anti-subsidy case against Chinese electric vehicles. Both sides expressed their political will to resolve differences through negotiations and agreed to continue pushing forward the negotiations on pricing commitment agreements, and strive to reach a solution acceptable to both parties through friendly dialogue negotiations. Currently, technical teams from both sides are actively negotiating on flexible pricing commitment proposals based on the direction set during the meeting, and working hard to reach a consensus on the solution framework before the final ruling. I want to emphasize once again that China has the greatest sincerity in resolving differences through dialogue negotiations, as well as the strongest determination to defend the legitimate rights and interests of Chinese enterprises. Thank you. China Daily Reporter: The Ministry of Commerce has launched its first anti-discrimination investigation in response to Canada's related restrictive measures against China, which has attracted much attention. What is China's comment on this matter? He Yongqian: Despite opposition and dissuasion from various parties, Canada has taken discriminatory unilateral restrictive measures against imports from China. Preliminary evidence and information obtained by the Ministry of Commerce show that Canada's measures fall under the circumstances prohibited in Article 7 of the Foreign Trade Law of the People's Republic of China, which relates to "prohibitory, restrictive, or similar measures taken in trade against the People's Republic of China." In accordance with Articles 36 and 37 of the Foreign Trade Law of the People's Republic of China, China has initiated an anti-discrimination investigation into the relevant restrictive measures taken by Canada. This investigation adheres to the principles of fairness, openness, and transparency, providing opportunities for public comments, and welcomes the active participation of all relevant stakeholders affected by Canada's measures, including domestic industries and enterprises in China. China will take all necessary measures to defend the legitimate rights and interests of Chinese enterprises. Thank you. Fujian Southeast TV Reporter: With the upcoming National Day, which marks the peak consumption season, what measures will the Ministry of Commerce introduce to promote consumption? He Yongqian: As you mentioned, the National Day holiday is a peak season for consumer spending. The Ministry of Commerce will focus on the following three aspects of work: First, organize the "Consumer Promotion Year" series of activities. In conjunction with seasonal changes, we will launch consumer scenarios such as enjoying the National Day, celebrating the harvest, and appreciating autumn scenery. We will continue to organize special activities such as boosting agricultural prosperity, promoting service consumption, and facilitating a convenient lifestyle; guide the implementation of special events such as the Sichuan Panda International Consumption Festival, Beijing's "Autumn Charm in the Capital", and Jiangsu's "Golden Autumn Smart Shopping"; support the use of platforms such as Shanghai Fashion Week and Tianjin Auto Show to hold various new product launches, showcasing more consumption hotspots during the "Golden September Silver October" period. Second, intensify efforts to promote the trade-in of old products for new ones. We will continue to urge localities to accelerate the implementation of relevant support policies, enhance the effectiveness of policies on trading in old cars, home appliances, and home renovation policies to revitalize the market, and ensure that the real benefits reach consumers. We will organize activities such as the "Chain of Thousand Enterprises, Benefiting Ten Thousand Homes" season of good product renewal, the "Thousand counties and Ten Thousand townships" season of new energy auto consumption, and the "Smart matching of new products and demand" exchange activities. Third, strengthen market monitoring during the holiday season and ensure the supply of essential daily necessities. We will launch daily monitoring of essential products during the holiday period, closely monitor changes in the supply and demand of products such as grains, oils, meats, eggs, dairy products, fruits, and vegetables. We will guide enterprises to organize sources of supply according to the consumption characteristics of the holiday, ensuring market supply. Through these measures, we will further optimize consumption supply, innovate consumption scenarios, create a consumer-friendly atmosphere, and better meet the consumption needs of residents during the holiday period. Thank you. Financial Times Reporter: The US Trade Representative's Office recently stated that it is proposing to increase the tariff rates on certain tungsten products, chips, and polycrystalline silicon, among five sub-items under the "Section 301" tariffs, and is seeking public opinions on plans to significantly raise tariffs on related products starting this week. What is the Ministry of Commerce's comment on this? He Yongqian: China has always opposed the US's imposition of Section 301 tariffs and has raised objections several times. The World Trade Organization has ruled that the US's Section 301 tariffs violate WTO rules. The recent actions by the US are moving further down the wrong path. We urge the US to objectively and rationally respond to calls from all sectors and to quickly lift all tariffs imposed on China in order to create a healthy and predictable environment for economic and trade cooperation between the two countries. Thank you. This article is adapted from the Ministry of Commerce official website.Editor: Chen Xiaoyi.I am learning Spanish.