US White House officials said that the United States will use restricted tools such as tariffs to counterattack China ’s approach to create products that lead the global market.
According to Reuters, Singh, deputy national security adviser in charge of international economic affairs, said at an event hosted by the American Manufacturing Alliance on Thursday (October 17) that China's accumulated market forces are getting more and moreIt is large and uses it to affect economic and geographical politics; Washington cannot accept the consequences of excess capacity in China.
He said that the data shows that compared to the expected demand of electric vehicles, batteries or semiconductors, China's production capacity is severe.He also said that the report shows that Chinese producers are "continuous losses."
Singh said: "This is the problem, and it is not abstract. You can see this from the numbers. What we must do for this." He did not disclose the measures that Washington will implementAnd related details.
He said, "We see China's subsidy level and growth rate of unparalleled growth", and said that more and more countries including Brazil, India, South Africa, and the European Union have begun to be like the United States, and industrial capacity will be used in the United States.Excess is considered a major problem.
Singh also said that China is using production to gain a dominant position in some industries."China is providing a large amount of supply to the strategic industry, far exceeding the reasonable absorption ability of global demand, thereby eliminating competitors."
He said that for 20 years, China has been using the same strategy, in steel, solar energy andThe medical equipment sector is dominated, but this trend is now expanding and intensified to electric vehicles, batteries and semiconductors, and Washington has been investing in these fields.
Washington has previously stated that in addition to tariffs, the United States may need to take further "more creative" actions to protect the influence of American industry and workers from increasingly excessive industrial capacity.
U.S. Treasury Minister Yellen said at an event held by the US Foreign Relations Commission in New York that Chinese provinces are competing for investment in advanced manufacturing industries such as clean energy and semiconductors.
She said: "The level of subsidies is very huge. Many companies with losses still exist. Therefore, the huge production capacity threatens our efforts in these fields."
