On May 30 local time, Trump suddenly posted on social media, publicly accusing China of "completely violating" the previously reached agreement to reduce tariffs. The phrase "China has completely violated our agreement. The era of being a nice guy is over!" instantly caused a huge uproar, triggering fluctuations in global financial markets, a decline in US stock index futures, and falls in the Dow Jones, Nasdaq, and S&P 500. International oil prices were also affected.

After three days of silence, on June 2, the Ministry of Commerce of China finally spoke out, formally responding to the US side's groundless accusations with reason and evidence. The response included four key points:

First, China firmly opposes the US side's baseless accusation that China violated the Geneva economic and trade negotiation consensus, which seriously deviates from the facts.

Second, China earnestly takes it seriously, strictly implements, and actively maintains this consensus.

Third, looking at the US side, it has successively introduced discriminatory restrictive measures targeting China, severely damaging this consensus.

Fourth, if the US side persists in its course, continuing to harm Chinese interests, China will continue to take resolute and effective measures to safeguard its legitimate rights and interests.

China has always adopted a serious and responsible attitude towards the "Joint Statement of the Geneva Economic and Trade Talks between China and the United States" reached on May 12, conscientiously fulfilling relevant commitments. However, after the talks, the US side continued to engage in various small tricks, fully exposing its double standards and hegemonic nature.

The US side has successively introduced a series of discriminatory policy measures targeting China: In the field of science and technology, restrictions have been imposed on the export of artificial intelligence chips to China, and sales of EDA chip design software to China have been banned, attempting to suppress the development of China's high-tech industries from a key technical level; in the field of cultural exchanges, some Chinese students' visas have been revoked, seriously infringing on the legitimate rights and interests of Chinese students. These actions directly undermine the just-concluded economic and trade agreement.

While forcefully refuting the US side, China also clearly put forward four key requirements, demonstrating a firm stance and determination to uphold fairness and justice:

First, urge both sides to move toward each other; second, require the US side to immediately correct its erroneous practices; third, hope both sides jointly maintain the Geneva economic and trade talks consensus; fourth, promote healthy, stable, and sustainable development of Sino-US economic and trade relations.

Trump's accusation this time stems from complex political and economic considerations. From a political perspective, he is facing severe legal challenges. On May 28 local time, the US Court of International Trade ruled that his imposition of tariffs under the International Emergency Economic Powers Act was "ultra vires," and Congress's power to manage trade cannot be replaced by presidential emergency powers. Although the federal appeals court temporarily suspended the ruling the next day, this undoubtedly dealt a significant blow to Trump's tariff strategy. He attempted to divert domestic attention and gain public support by blaming China.

From an economic perspective, the US has implemented a series of suppression and blockade measures against China in critical areas such as semiconductors, while criticizing China harshly over rare earth issues. The US claims that China has made slow progress in implementing the terms to lift restrictions on rare earth exports. The US automotive industry organization warned that due to the impending shortage of rare earth magnets from China, US auto factories may be forced to shut down within weeks.

The actions taken by the US in the semiconductor sector not only harm the interests of Chinese companies but also have negative impacts on global technological cooperation and industrial development. Regarding the issue of rare earth exports, China has always followed international rules and its own development needs. The US, however, ignored these facts, using the excuse of "violating agreements" to exert pressure, essentially aiming to create tensions to force China to make concessions on rare earth issues and meet its unreasonable resource demands. This groundless accusation reveals the hypocrisy and double standards of the US.

For a long time, thanks to its abundant rare earth reserves and strong refining and processing capabilities, China has supplied a large amount of rare earth products globally, supporting the development of related industries in various countries. However, the previous extensive development and export led to excessive consumption of resources and environmental degradation. China's reasonable management of rare earth resources is a sovereign act to ensure resource security and promote sustainable development. The US has no right to criticize this.

US Treasury Secretary Bessette said on June 2 that China and the US would soon hold a call to resolve trade issues including critical mineral disputes, which may be a positive signal. However, looking back, the US's unpredictable behavior on economic and trade issues makes it difficult for people to trust easily. It is hoped that the US can recognize the situation, abandon hegemonic thinking and unilateralist practices, and show sincerity in consultations with China on both semiconductor issues and rare earth problems.

For China, it has always adhered to the attitude of solving trade issues through equal consultation but also firmly safeguards its own legitimate rights and interests and industrial security. In future Sino-US economic and trade relations, China will continue to adhere to dialogue, adhere to consensus, adhere to rights and interests, and adhere to countermeasures. If the US persists in its course and continues to harm Chinese interests, China will certainly take resolute and effective measures to safeguard its legitimate rights and interests.

Original article: https://www.toutiao.com/article/7511302409717563940/

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