CHINA SAYS US 301 TRADE PROBE TARGETING 16 ECONOMIES IS TYPICAL UNILATERALIST ACT

BEIJING, March 13 (Bernama-Xinhua) -- China's Ministry of Commerce said on Friday that the US Section 301 trade investigation aimed at 16 economies under the pretext of "overcapacity" is a typical unilateralist act that severely disrupts the international economic and trade order, reported Xinhua.

In a statement, a ministry spokesperson said that a World Trade Organisation (WTO) panel has long ruled that tariffs imposed based on Section 301 investigations violate WTO rules.

China has made its position clear on multiple occasions regarding the so-called "overcapacity" claim by the United States, the spokesperson said, noting that the world economy has for long been an inseparable whole, with production and consumption being global in nature.

"There would be no cross-border trade if production in each country only meets domestic market demand," the spokesperson said, urging the United States not to narrowly define production capacity that exceeds domestic demand as "overcapacity" and label it as such.

The spokesperson added that the US also has no right to unilaterally determine whether its trading partners have "overcapacity" through Section 301 investigations and impose unilateral restrictive measures.

In the statement, the spokesperson said that China has also noted the US initiation of Section 301 investigations into 60 economies, including China, in relation to what it claimed to be failures to prohibit the importation of goods produced via "forced labour," saying that China is currently analysing and assessing this development.

"China urges the US to correct its erroneous practices and return to the right track of resolving issues through dialogue and consultation," the spokesperson said, adding that China will closely monitor the progress of the situation and reserves the right to take all necessary measures to safeguard its legitimate rights and interests. 

--BERNAMA-XINHUA