China has responded to criticism from other G20 nations, particularly the U.S., regarding its heavy reliance on exports, accusing them of fostering protectionism. U.S. Treasury Secretary Scott Bessent noted that 19 G20 members agreed to address what they termed an 'unsustainable equilibrium' caused by cheap exports, with China being the sole dissenter.
The Chinese Commerce Ministry, represented by spokesperson Ling Huang, dismissed these trade complaints as tactics to pressure China, asserting that such accusations disrupt the global economic order. Huang also criticized U.S. sanctions related to Iran, claiming they unjustly target Chinese entities.
Additionally, she urged France to reconsider a new law aimed at regulating low prices from Chinese e-commerce firms, warning of potential repercussions if France proceeds. This exchange occurs amid ongoing trade discussions between China and the EU, with the latter seeking to address its trade deficit with China by October.
EU Trade Commissioner Maroš Šefčovič emphasized the need for tangible results from China to avoid stricter measures. Overall, these developments reflect escalating trade tensions that could have significant implications for international markets and economic policies