Chinese tabloid calls for "self-defense" in response to US trade threats

Washington is expected to unveil Friday restrictions on foreign investment in US tech companies, and Trump said it would not be confined to China.

The US administration claims that China has diverted intellectual property from the United States through joint ventures, unfair licensing policies, and the use of intellectual property rights. acquisitions of US-funded state-owned technology companies, a charge that Beijing denies.

China, which has pledged to further open its market and economy this year, could also adjust its policies due to the economic uncertainty stemming from trade frictions, according to the Global Times.

"China can offer export subsidies to Chinese companies in the framework of the WTO (World Trade Organization) and provide them with political support," he added.

"The high-tech industry is a key area where efforts should be made to protect Chinese companies from the attack launched by Trump." The position of the tabloid does not necessarily reflect the policy of the Chinese government.

China will assess the potential impact of planned investment restrictions in the United States on Chinese companies, the Ministry of Commerce said Wednesday in a short statement.

"We can not rule out the possibility that China will refine its openness policies if necessary," said the tabloid, which is run by the Communist Party's official People's Daily.

A US government official told Reuters on Sunday that the US Treasury Department was working on a proposal to ban acquisitions of US companies with "technology of industrial importance" by companies owning at least 25 percent of Chinese.

"If China ZTE Corp. and other companies become the first to bear the brunt of Trump's trade war, they will also be the first to receive support from the Chinese government," said the Global article. Times.

ZTE, the second largest telecom equipment manufacturer in China, has ceased major operations after the United States imposed a ban on US suppliers in April.

The state-run China Daily newspaper, in a separate editorial also released on Wednesday, said US industries and workers could possibly "feel the pain," while Trump's policies were affecting channels. global supply.

Increasing trade friction between the world's two largest economies has caused a liquidation of global stock markets, including China, which has entered bear territory.

In the context of increasing trade tensions, US Secretary of Defense Jim Mattis is on an official visit to China, where he is expected to meet with his Chinese counterpart and other senior government officials, including possibly President Xi Jinping. .