China calls for US to guard ‘hard-won outcomes’
(MENAFN) On Friday, China called on the United States to "promptly correct its wrong practices and protect the hard-won outcomes of consultations" after the U.S. Trade Representative (USTR) launched an investigation into China’s implementation of the 2019 "Phase One" trade agreement.
“As a major country that takes its responsibilities seriously, China has scrupulously fulfilled its obligations in the Phase One Economic and Trade Agreement by protecting intellectual property, increasing imports, and providing greater market access,” Liu Pengyu, spokesperson for the Chinese Embassy in the U.S., wrote on the social media platform X.
The USTR initiated a Section 301 investigation on Friday, examining China’s adherence to the agreement. The probe highlights China’s commitment to making structural changes to address practices in areas like intellectual property, technology transfer, agriculture, and financial services, as well as certain other issues within the deal.
Liu voiced China's “firm opposition” to what he described as “false accusations and related review measures.” He criticized the U.S. for escalating economic and other forms of pressure against China since the agreement’s signing, pointing to measures like export controls and investment restrictions that, according to Liu, undermine the spirit of the deal.
“Since signing the Phase One Economic and Trade Agreement, the US has systematically escalated economic and other forms of pressure against China, implementing a series of restrictive measures such as export controls and investment restrictions that repudiate the spirit of the Agreement,” Liu stated, adding that these actions have caused "serious damage" to bilateral trade relations.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
