The Ministry of Commerce responds to economic and trade hotspots such as the US's proposed imposition of tariffs on Chinese semiconductor products

Beijing, December 25 (Xinhua) -- In response to the recent announcement by the United States to impose additional 301 tariffs on some semiconductor products from China, the spokesperson of the Ministry of Commerce, He Yong, responded at a routine press conference on the 25th that China has taken note of the situation and has made solemn representations to the United States through the China US economic and trade consultation mechanism. The Chinese side does not agree with the so-called conclusion of the US 301 investigation and firmly opposes the US imposing 301 tariffs on Chinese semiconductor products.

At the press conference, a reporter asked: On December 23, Eastern Time, the Office of the United States Trade Representative released the results of its investigation into China's semiconductor policy, announcing the imposition of 301 tariffs on some Chinese semiconductor products. The current tariff rate is 0%, and the tariff rate will be raised again in June 2027, 18 months later. What is the comment of the Ministry of Commerce on this?

He Yongqian said that the unilateral tariffs imposed by the United States violate the rules of the World Trade Organization, disrupt the international economic and trade order, disrupt the global industrial and supply chains, harm the interests of American companies and consumers, and harm others without benefiting oneself. The Chinese side urges the US to correct its erroneous practices as soon as possible and cancel relevant measures. China is willing to address their respective concerns through equal dialogue and consultation with the United States on the basis of mutual respect, peaceful coexistence, and win-win cooperation. If the US insists on harming China's rights and interests, China will resolutely take necessary measures to firmly safeguard its own rights and interests.

There are also questions from reporters regarding reports that TikTok will establish a new TikTok US joint venture company. He Yongqian stated that in order to implement the important consensus reached during the phone call between the heads of state of China and the United States, the economic and trade teams of both sides have reached a basic framework consensus on resolving issues such as TikTok through cooperation on the basis of mutual respect and equal consultation. The Chinese government hopes that enterprises can achieve solutions that comply with Chinese laws and regulations and balance interests. We hope that the US and China will move towards each other, fulfill their respective commitments, provide a fair, open, transparent, and non discriminatory business environment for Chinese companies to operate steadily in the US, and promote stable, healthy, and sustainable development of China US economic and trade relations.

Regarding the recent order by the United States to block all sanctioned oil tankers entering and leaving Venezuela, He Yongqian stated that China has always firmly opposed unilateral sanctions and so-called "long arm jurisdiction" imposed by relevant countries. Arbitrarily intercepting oil tankers from other countries may not only disrupt the normal operation of the international energy market, but also trigger other security risks. It is normal, reasonable, and legal for Venezuela to engage in economic and trade cooperation with other countries within the framework of international law, and this right should be respected and supported.

When asked whether the Ministry of Commerce would relax its export restrictions on rare earth magnets from the United States, He Yongqian said that China has always been committed to maintaining the security and stability of the global production and supply chain, actively promoting and facilitating compliant trade.