US EditionChina attacks UK trade deal with US
- China criticized the recent U.K.-U.S. trade deal signed earlier this month for targeting other nations and complicating China's relations with the U.K.
- The trade agreement eliminates the 25% U.S. Tariff on British steel and aluminum and lowers car tariffs to 10% for the first 100,000 vehicles, while maintaining a standard 10% tariff on the majority of other products.
- The agreement includes a clause to coordinate addressing non-market policies of third countries such as China to prevent the U.K. Becoming a backdoor for circumvention.
- Zhang Yansheng, a senior analyst from China's top macroeconomic research institute, described the provision as a "poison pill clause" that is more damaging than tariffs, while Beijing emphasized the importance of cooperation that does not negatively impact other countries.
- The deal poses challenges for the U.K. Government as it tries to balance relations between the U.S. And China amid ongoing economic tensions and strategic competition.
35 Articles
35 Articles
China Slams US-UK Trade Deal, Calls It 'Poison Pills' Worse Than Tariffs
These conditions have raised concerns in Beijing, with Zhang Yansheng, a senior researcher at the China Academy of Macroeconomic Research, describing the deal's clauses as "poison pills" that are worse than tariffs.
China Slams UK-US Trade Pact, Finds It 'Against' Its Interests: 'This Type Of Poison Pill Clause Is Actually Worse Than The Tariffs' - Ford Motor (NYSE:F), General Motors (NYSE:GM)
The recent trade agreement between the U.K. and the U.S. has been met with disapproval from China, potentially adding more complexity to London’s ongoing efforts to rebuild its relations with Beijing. What Happened: The trade pact, which imposes strict security measures on Britain’s steel and pharmaceutical sectors, is the first of its kind since the U.S. introduced “reciprocal tariffs” last month. China’s foreign ministry expressed that it is a…
Fox Business
The Business TimesChina criticizes US-UK trade deal, says it's 'basic principle' not to target other countries: report
China criticized the trade agreement between the U.S. and the U.K. that could potentially push Chinese products out of British supply chains, according to a report.The deal reached between America and Britain last week includes strict security requirements for the U.K.'s steel and pharmaceutical industries.When asked about the agreement, China said it's a "basic principle" that countries should not target other nations when making deals, the Fin…
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