- Tram Ho
The Chinese Ministry of Commerce on September 19 enacted regulations regarding the so-called “untrustworthy list” in the move seen as retaliation for the inclusion of some Chinese companies by the US ” black list”.
The Ministry of Commerce’s announcement did not mention any specific foreign entities but said it would consider punishing “foreign companies and individuals whose activities harm national sovereignty and security. and China’s development interests “or violate” internationally accepted trade and economic regulations “.
Sanctions can be fines, prohibitions on business, import, export and investment in China, and the introduction of personnel or equipment into the country. In addition, according to Reuters, foreign companies can be removed from the list if they correct their behavior and take steps to remedy the consequences of their actions.
TikTok’s office in Culver City, California – USA Photo: REUTERS
The Chinese move further heated the trade war with President Donald Trump’s administration. Washington previously used a “blacklist” to ban Huawei Technologies Telecom Equipment Group from operating in the US market for national security reasons. China last year threatened to create a list to punish foreign companies deemed harmful to Beijing’s interests but has yet to publish such a list. However, Chinese media in May warned that the above measures would target US companies such as Apple, Cisco Systems, and Qualcomm, and suspend the purchase of Boeing aircraft.
Notably, the above announcement came a day after the US banned the download of video-sharing app TikTok and blocked the use of the WeChat app (both owned by China) from September 20 due to national security. China’s Ministry of Commerce on September 19 accused the US of “bullying” and warned that there would be a necessary response.
Meanwhile, ByteDance, the company that owns TikTok, on the night of September 18 (US time) filed a lawsuit against the Trump administration’s recent moves to prevent the app from operating in the US and recommended a judge. prevent Washington from enforcing the above ban. According to Bloobmerg, the lawsuit said Mr Trump was out of power and banned TikTok for political reasons.
As the United States increases economic pressure on China, another issue of concern is whether the renminbi’s exchange rate will once again be pulled into controversy. President Donald Trump has long accused China of manipulating its currency to boost exports and threaten to split the two economies. Now, some experts say the value of the yuan may again become the focus of attention, especially China, which has a huge trade surplus after well controlled the Covid-19 epidemic.
According to the South China Morning Post (Hong Kong), the US Department of Commerce in July conducted an anti-subsidy and anti-dumping investigation against Chinese lanyards products. By next week, the ministry plans to issue a preliminary report on the investigation, which looks at the suspicion of the Yuan being deliberately undervalued to give Chinese exporters an advantage. Mr. Peter Quinter, a lawyer at the Gray Robinson Law Firm (USA), said that if the US Department of Commerce concludes that Beijing deliberately did so, Washington could impose additional taxes on a range of Chinese products. In addition, this may also lead to tightening exports of some US goods to China and Chinese investment in the US …
“Diamond quartet” is about to meet in Japan
The governments of Japan, the US, Australia, and India are planning to hold a foreign minister-level meeting in Tokyo in early October in an attempt to cope with China’s expanding influence in Japan. the Indo-Pacific region. In addition, the Jiji Press news agency on September 19, citing Japanese government sources, said that the new Prime Minister Suga Yoshihide is expected to meet with the foreign ministers of the US, Australia and India if this meeting takes place.
These four countries are currently members of the Quadrilateral Security Dialogue (also known as the “Diamond Four”), which was created to ensure peace and stability in the Indo-Pacific region and to cope. with China’s ambitions to expand in this region. The first meeting between the foreign ministers of these four countries in the framework of the dialogue took place in New York City in September 2019.
According to NHK broadcaster, the upcoming 2nd meeting will discuss the realization of the vision of a free, open and cooperative Covid-19 Indo-Pacific region. A Japanese government source said that a meeting of the “Diamond Quartet” would, if held, would be of great significance in the context of the Covid-19 crisis that has not cooled yet. Even so, this event is sure to upset China and threaten to influence recent improving Tokyo-Beijing relations.
Source : Genk