The United States has escalated tensions with China over concerns related to trade practices and economic policies. The U.S. Treasury, through officials including Jay Shambaugh and media reports by outlets such as the Financial Times (FT), has expressed worries about China's industrial support policies and macroeconomic strategies, focusing on supply rather than demand. This approach is feared to lead to overcapacity and the potential dumping of goods on global markets. Chinese Foreign Minister has responded to these concerns by emphasizing the importance of free trade and multilateralism, and warning against the decoupling from China's economy, labeling it a historic mistake. The U.S. has warned it will take action if China attempts to alleviate its industrial overcapacity by flooding international markets with cheap goods. Additionally, China has expressed readiness to work with the European Union (EU) to uphold free trade and multilateralism. This situation highlights the growing tensions and the potential for a trade war between the two largest economies in the world.
China ready to work with EU to uphold free trade, multilateralism, foreign minister says https://t.co/sWBbpN0nV7 https://t.co/AToJgrTf9H
The United States has warned China that it will take action if Beijing tries to “ease the problem of excess industrial capacity by dumping goods on international markets,” The Financial Times reports
Glad the US Treasury is once again highlighting the global consequences of China's apparent unwillingness to take policy steps to support internal demand 1/2 https://t.co/zPJMtTbvXM
It’s worth noting the early Chips Act focus on so-called legacy chips—older models that are still essential to the economy The US is concerned about China’s growing legacy capacity & considering tariffs/other trade tools in addition to domestic subsidies: https://t.co/pAfxSEF7Sp https://t.co/aHv3yofBFV
🚨🇺🇸🇨🇳BREAKING: THE U.S ESCALATES TRADE WAR WITH CHINA Fearing the impact of Chinese economic stimulus packages, the U.S has warned China it will take action if they flood international markets with cheap goods. U.S official: “We are worried that Chinese industrial support… https://t.co/bOaHw2OhhY
BREAKING: The Financial Times reports that the US has warned China that it will take action if China tries to 'ease its industrial overcapacity problem by dumping goods on international markets'.
“We are worried that Chinese industrial support policies and macro policies that are more focused on supply rather than thinking about where the demand will come from are both careening towards a situation where overcapacity in China … is going to wind up hitting world markets.”… https://t.co/BvCgYWhivZ
US warns China that it will act if Beijing dumps goods on global markets - Interview with top Treasury officials about their recent visits to Beijing 👇 https://t.co/7ChGFwfVSp
1/2 Treasury undersecretary Jay Shambaugh: “We are worried that Chinese industrial support policies and macro policies that are more focused on supply rather than thinking about where the demand will come from are both careening towards a situation... https://t.co/P1ZSyrg6Tm
US Says It Will Act If China Dumps Goods On Global Markets - FT https://t.co/IWpdp62dEf
US says it will act if China dumps goods on global markets https://t.co/8mz5WYzPtt
China demands US lift ‘illegal unilateral sanctions’ The country’s foreign minister has warned that 'decoupling from China' will eventually backfire on Washington https://t.co/XIkfGzJKQY https://t.co/RSeRFlIj5R
Chinese foreign minister says trying to cut his country out of trade would be historic mistake https://t.co/CjqNS17t2W
Chinese Foreign Minister Says Trying to Cut His Country Out of Trade Would Be a Historic Mistake https://t.co/z87FEA8OOH