China’s Commerce Ministry warned Thursday which U.S. actions against companies such as Huawei could escalate trade tensions.
On Wednesday, U.S. President Donald Trump declared a national emergency over threats against American technology. The U.S. Department of Commerce subsequently announced the addition of Huawei Technologies along with also its affiliates to the Bureau of Industry along with also Security (BIS) Entity List. currently U.S. businesses will need a license to sell or transfer technology to Huawei, likely creating which far more difficult for the Chinese telecom giant to conduct business with them.
We ask the U.S. to stop further actions, so Chinese companies can have a more normal environment to trade, to avoid further escalation of U.S.-China trade tensions, spokesperson Gao Feng said in Mandarin during a press conference Thursday, according to a CNBC translation.
He criticized the use of national security as a tool for protectionism, along with also emphasized which overseas operations of Chinese companies should respect local laws.
Trade tensions between the U.S. along with also China took a negative turn from the last two weeks, upsetting expectations which both sides would certainly soon reach a deal. The U.S. raised tariffs on $0 billion worth of Chinese goods on Friday, along with also China retaliated Monday with plans for tariffs on $60 billion worth of U.S. goods set to take effect June 1.
Gao said Beijing has not received any details on a U.S. visit to China for further trade negotiations. Treasury Secretary Steven Mnuchin plans to visit Beijing from the near future, according to a Dow Jones report.
On the topic of a meeting between Trump along with also Chinese President Xi Jinping next month, the Ministry of Commerce referred CNBC to the Ministry of Foreign Affairs.