Key points
- America First Investment Policy names China among “adversaries”
- Beijing’s $295 billion trade surplus with Washington looms large in the new US administration’s list of concerns
- President Trump has earlier hinted at the possibility of a deal
ISLAMABAD: China has called on the United States (US) to stop politicising and weaponising economic and trade issues, as Washington tries to limit overseas investments by Beijing in line with President Donald Trump’s “America First” policy, according to Bloomberg.
According to Business Standard, the American government’s actions, which strengthen reviews of business ties with China on security grounds, will seriously undermine the confidence of Chinese companies that are investing in the US, the Ministry of Commerce said in a statement on Saturday.
China among “Adversaries”
The ministry’s comments followed the release of the America First Investment Policy, which named China among “adversaries” that systematically direct and facilitate investment in US companies and assets “to obtain cutting-edge technologies, intellectual property, and leverage in strategic industries.”
Although President Trump earlier hinted at the possibility of a deal to prevent further escalation of a trade war with China, Beijing’s $295 billion trade surplus with Washington looms large in the new US administration’s list of concerns. Treasury Secretary Scott Bessent dubbed China as the most “unbalanced economy in the history of the world” in an interview with Bloomberg TV.
China will closely monitor the US actions and will take necessary measures to safeguard its own legitimate rights and interests, a Chinese Commerce Ministry spokesperson said.
Beijing’s retaliation
Beijing has retaliated against US tariffs with measures including limited levies on America, and this week said Washington’s claims that China has failed to stop the trade in fentanyl were a “pretext” for imposing the charges.
In a separate statement on Sunday, the Commerce Ministry said the proposed restrictive measures by the US against China’s maritime, logistics and shipbuilding industries are harmful to others as well as itself. Beijing urged Washington to respect facts and multilateral rules and to “stop its wrongdoings.”
