China Points Finger At Team Biden For Trade Dip: 'Direct Consequence Of US Moves'

Following a significant drop in trade between the U.S. and China, Beijing’s ambassador to the U.S., Xie Feng, has attributed tariffs and export controls introduced by the Joe Biden-led administration as the primary cause, CNBC reported.

Xie gave a speech via video at the U.S.-China Business Forum in New York, stating that trade between the two nations dropped by 14.5% in the first half of the year compared to last year.

“This is a direct consequence of U.S. moves to levy Section 301 tariffs on Chinese imports, abuse unilateral sanctions and further tighten up export controls,” Xie said during his address.

Following a further decline in July, with a 15.4% drop from the same period in 2022, Xie warned of the risk of further tensions between China and the U.S.

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Xie also called for a path to expand mutually beneficial economic cooperation and trade between the two countries. He suggested facilitating travel and renewing an agreement on science and technology cooperation.

Despite the drop in trade with the U.S., Xie highlighted that France, the U.K., and Japan significantly increased their foreign investment in China in the first half of the year.

In response to China’s request to reduce export controls, U.S. Commerce Secretary Gina Raimondo stated, “We don’t negotiate on matters of national security.”

Xie countered, calling the U.S. restrictions “a violation of the principle of free trade.”

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