$NIO Inc (NIO.US)$ China｜Chinese Ministry of Foreign Affairs...

$NIO Inc(NIO.US)$ China｜Chinese Ministry of Foreign Affairs to Impose New Tariffs on Chinese Electric Cars, Etc.: The United States Is Wrong to Make a Mistake

IN BEIJING, FOREIGN MINISTRY SPOKESMAN LIN JIAN SAID THE PREVIOUS U.S. ADMINISTRATION IMPOSED “301 TARIFFS” ON CHINA, WHICH SEVERELY INTERFERED WITH NORMAL CHINA-U.S. ECONOMIC RELATIONS AND HAD BEEN RULED A VIOLATION OF WORLD TRADE RULES BY THE WORLD TRADE ORGANIZATION. The United States has not only corrected its mistakes, but continues to politicize economic and trade issues, abusing the so-called “301 Tariff” review process to further increase tariffs, which is a mistake. China urges the United States to fully comply with WTO rules, to abolish all tariffs on China and not to increase tariffs. The Central Party will take all necessary measures to defend its own interests.

US President Biden announced as soon as next week that China will impose new tariffs on strategic sectors including electric cars, including semiconductors and solar equipment, the source said, citing sources familiar with the power sector.