Chinese businesses urged the US side to respect objective facts, stop overstretching and abusing trade restrictions, return to a rules-based multilateral trading system to properly address economic and trade differences through dialogue and consultation, and jointly safeguard the stability of global industrial and supply chains, a spokesperson for the China Council for the Promotion of International Trade (CCPIT), said on Friday.

The Office of the US Trade Representative (USTR) on Wednesday local time released findings under Section 301 of the Trade Act of 1974, concluding that 60 economies had failed to implement and effectively enforce measures banning imports of goods made with forced labor, and proposed additional tariffs ranging from 10 percent to 12.5 percent on the relevant economies. China, including Hong Kong, was placed on the list of economies subject to a 12.5 percent tariff rate.

The Chinese business community have expressed strong dissatisfaction and firm opposition to the move, according to the spokesperson.

US' conclusions that the relevant measures undermine efforts to eliminate forced labor and distort market competition lack sufficient factual basis, while the use of tariffs as a tool for policy pressure carries clear unilateralist and protectionist overtones, the spokesperson said , adding that the differentiated tariff arrangements clearly violate the principles of non-discrimination and fair competition.

The US' claims that the measures undermine efforts to eliminate forced labor and distort market competition lack sufficient factual basis, according to the spokesperson.

CCPIT will continue to serve as a bridge linking businesses, support companies in strengthening compliance and risk management, and promote deeper practical cooperation between the Chinese and US business communities as well as their counterparts worldwide, the spokesperson said.

Global Times