02:10

China: China defends rare earth export controls, rebuts US tariff threat

Content Partner Cover Image
Content Partner Profile Image
Uploaded by a Newsflare content partner

Buy video

Storyline: China defends rare earth export controls, rebuts US tariff threat [Voice_over] The statement comes after US President Donald Trump retaliated with a 100 percent tariff threat. The Ministry has outlined Beijing's stance on four key issues, including China's consideration for the measures, their implementation, Trump's 100 percent tariff threat, and US port fees on Chinese vessels. China says the move is a legitimate step to improve its own export control system in accordance with laws and regulations. It notes that medium and heavy rare earth-related items have important applications in the military field. China says export control does not amount to a ban, and applications that comply with regulations will be approved. Beijing also stresses that it had notified relevant parties prior to the announcement. Regarding the implementation, China says it will carry out license reviews in accordance with laws and regulations. It will actively facilitate applications that are compliant, including for civilian use. Beijing urges calm and says it will work with all parties to ensure the stability of global industrial and supply chains. China says President Trump's 100 percent tariff threat is not the right way to deal with China. It says that the US has broadly defined national security, abused export controls, adopted discriminatory practices against China, and implemented unilateral long-arm jurisdiction measures on products such as semiconductor equipment and chips. China says it does not seek a trade war but is not afraid of one. China urges the US to promptly correct its wrong practices, follow the important consensus reached by the heads of state of both countries in their phone call, preserve the hard-won results of the consultations, and continue to leverage the China-US economic and trade consultation mechanisms. The Chinese Ministry of Commerce says Washington's decision to impose port fees on Chinese vessels violates World Trade Organization rules and contravenes the principles of equality and reciprocity. China has provided a written response to accusations by the US and proposed recommendations for cooperation in relevant industries. The Ministry says China had no choice but to take countermeasures after the US insisted on implementing these measures to safeguard its legitimate rights and interests. China urges the US side to return to the right path of dialogue and consultation. [Restrictions : No access Chinese mainland]

Categories

Tags

From the blog

Stories not Stock: 3 Reasons Why You Should Use UGC Instead of Stock Video

Video content is an essential part of a brand’s marketing strategy, and while stock footage has been a reliable go-to in the past, forward-thinking companies are looking to user-generated content for their video needs.

View post
Content Partner Cover Image
Content Partner Profile Image
Uploaded by a Newsflare content partner

Buy video