China's Foreign Minister Wang Yi: China opposes broad labels of national security and unfair restrictions on Chinese companies.

China's Foreign Minister Wang Yi: China opposes broad labels of national security and unfair restrictions on Chinese companies.

China's Foreign Minister Wang Yi has expressed strong opposition to the broad application of national security labels and unfair restrictions imposed on Chinese companies. Speaking at a press conference, Minister Wang emphasized that such measures serve no party's interests and hinder global trade and economic cooperation.

In recent months, the United States has implemented several tariffs on key metals, including copper, under the pretense of national security. China's Foreign Ministry spokeswoman Mao Ning has repeatedly stated that these tariffs "serve no party's interests" and are counterproductive to global trade [2].

Minister Wang's stance aligns with China's long-standing position on the overstretching of national security concepts and the negative impact of tariff wars. He stressed that China is committed to fair trade practices and will not hesitate to adopt reciprocal measures if faced with discriminatory restrictions.

In a separate development, China has barred European companies from major government medical device contracts, a move seen as a retaliatory measure against similar EU restrictions on Chinese firms [3]. The Ministry of Finance stated that the exclusion of non-EU companies from these contracts is a last resort, highlighting the need for consultation and dialogue to resolve trade differences.

These actions by China underscore its commitment to addressing what it perceives as unfair trade practices and protecting its national interests. The global financial community is closely watching these developments, as they have the potential to impact international trade and investment dynamics.

References:

[1] https://www.cbsnews.com/news/china-spy-plots-honey-trap-espionage-arrests/
[2] https://www.ndtv.com/world-news/arbitrary-tariffs-serve-no-one-says-china-after-us-copper-levy-8853609
[3] https://www.scmp.com/news/article/3317147/retaliatory-move-china-blocks-eu-companies-medical-device-contracts