Ministry of Commerce: China urges the U.S. to cancel unilateral tariffs imposed on trade partners

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CITIC Securities Finance APP has learned that on February 20th, Eastern Time, the U.S. Supreme Court announced the ruling on the tariff lawsuit, ruling that the U.S. government’s imposition of reciprocal tariffs, fentanyl tariffs, and other related tariffs based on the International Emergency Economic Powers Act is illegal. In response, a spokesperson for the Ministry of Commerce stated that China urges the U.S. to cancel the unilateral tariffs imposed on trading partners. The Ministry also noted that the U.S. is preparing to take alternative measures such as trade investigations to maintain the tariffs on trading partners. China will closely monitor this and firmly safeguard its interests.

The specific Q&A transcript is as follows:

Q: On February 20th, Eastern Time, the U.S. Supreme Court announced the ruling on the tariff lawsuit, ruling that the U.S. government’s imposition of reciprocal tariffs, fentanyl tariffs, and other related tariffs based on the International Emergency Economic Powers Act is illegal. What is the Ministry of Commerce’s comment?

A: We note that the U.S. Supreme Court announced the ruling on the tariff lawsuit and are conducting a comprehensive assessment of the relevant content and impact. China has always opposed all forms of unilateral tariff increases and repeatedly emphasizes that there are no winners in a trade war and that protectionism has no way out. The U.S. measures such as reciprocal tariffs and fentanyl tariffs violate international economic and trade rules as well as U.S. domestic law, and are not in the interests of all parties. Repeated facts prove that when China and the U.S. cooperate, both benefit; when they fight, both suffer. China urges the U.S. to cancel the unilateral tariffs imposed on trading partners. We also note that the U.S. is preparing to take trade investigation measures.

This article is excerpted from the official website of the Ministry of Commerce; edited by Chen Xiaoyi of CITIC Securities Finance.

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