A farmer plants soybeans in a field in Springfield, Neb., Thursday, May 23, 2019. President Donald Trump rolled out another $16 billion in aid for farmers hurt by his trade policies, and financial markets shook Thursday on the growing realization that the U.S. and China are far from settling a bitter, year-long trade dispute. (AP Photo/Nati Harnik)

China media accuse US of plot to 'colonize global business'

May 24, 2019 - 5:02 am

BEIJING (AP) — Stepping up a propaganda offensive against Washington, China's state media on Friday accused the U.S. of seeking to "colonize global business" by targeting telecom equipment giant Huawei and other Chinese companies.

There was no word from either side of progress about resuming talks on ending a tariff war between the world's two largest economies. Those negotiations over how to cut the huge, longstanding U.S. trade deficit with China and resolve complaints over Beijing's methods for acquiring advanced foreign technologies foundered earlier this month after President Donald Trump raised tariffs on billions of dollars of imports from China.

Overnight, President Donald Trump reiterated his criticism of Beijing, accusing China of taking advantage of the United States, though he said he hoped to meet with his Chinese counterpart Xi Jinping at a meeting of leaders of the Group of 20 industrial nations in Japan next month.

At a daily briefing Friday, Foreign Ministry spokesman Lu Kang accused American politicians he didn't name of "fabricating various lies based on subjective presumptions and trying to mislead the American people."

The China Daily, an English-language newspaper, said U.S. expressions of concerns about Chinese surveillance equipment maker Hikvision were for the self-serving aim of claiming the "moral high ground" to promote Washington's political agenda.

"In this way, it is hoping to achieve the colonization of the global business world," the newspaper said.

Activists have been urging the U.S. and other countries to sanction China over repression of members of Muslim ethnic minorities living mostly in the northwestern region of Xinjiang.

Hikvision's technology has been used in the region, where an estimated 1 million people are being detained in re-education camps. The New York Times has reported the company might be placed on the Commerce Department's "entity list," severely restricting its ability to do business with U.S. companies.

That would be in addition to new restrictions on sales of computer chips and other components to technology companies like Huawei. The move, announced last week with a 90-day grace period, would pose a severe challenge for Huawei, which like other Chinese manufacturers still relies heavily on imported chips and other hardware.

The Trump administration has imposed 25% tariffs on $250 billion in Chinese imports and is preparing to extend those duties to another $300 billion worth — virtually all the goods America buys from China.

China has raised tariffs on $110 billion of U.S. products and has said it's prepared to do more to defend its national interest.

Most recently, Chinese officials and state media have ramped up the rhetoric on trade.

The Global Times, published by the ruling Communist Party, said Washington was engaged in a "global assault" on free trade.

"Because of Washington's hegemonic hubris, the global economy is under huge downward pressure, and the long-established international rules that govern global trade transactions are in serious jeopardy," the paper said.

Already, the trade war is bringing pressure down on U.S. firms operating in China.

"The negative impact of tariffs is clear and hurting the competitiveness of American companies China," the American Chamber of Commerce in China and AmCham Shanghai said in announcing the results of a survey of nearly 250 companies conducted May 16-20.

To cope, companies are focusing more on the China market, rather than exporting to the U.S., and delaying or canceling investment decisions, the groups said.

It said that about 40 of the companies surveyed had experienced increased inspections or slower customs clearance. But just over half have yet to experience any pressure from non-tariff retaliatory measures from China.

AP Editorial Categories: 
Comments ()