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Trade dispute: USA suspects China of offering dumping prices
New dispute over China's flood of exports: trading partners are annoyed about "cheating". Biden vs. Beijing - tariffs and dumping allegations in focus. EU examines distortion of competition.
Trade dispute: USA suspects China of offering dumping prices
In China there is overcapacity in industrial production, encouraged by government subsidies, which leads to cheap goods on the international market and annoys trading partners. This results in enormous export potential, as Jörg Wuttke, the long-standing President of the European Chamber of Commerce in China, emphasized. Industries such as autos, steel, aluminum and wind turbines are suffering from significant overcapacity, which has prompted the US government to take action. President Joe Biden plans to triple U.S. tariffs on certain steel and aluminum imports and accuses China of dumping surplus steel.
Biden's remarks, made to union members and steelworkers in Pittsburgh, Pennsylvania, highlighted the unfairly low prices of Chinese steel companies, which are supported by government money and therefore do not have to fear for their profits. This led to Biden talking about unfair competition and emphasizing that Chinese companies are “cheating” rather than truly competing.
In response to Biden's threats, a Chinese Foreign Office spokesman emphasized that China has consistently insisted that the US abide by the rules of fair competition and stop its protectionist measures against China. China is determined to take all necessary measures to defend its legitimate rights.
The trade conflict between the USA and China has been going on for several years, even though both countries are closely linked economically. The US has already introduced economic sanctions and export restrictions against China to make access to US technologies more difficult. In response to these measures, China has initiated dispute settlement against the US at the WTO, particularly over discriminatory subsidies.
In Europe, companies are complaining about high energy prices and competition from China, which is causing European companies, particularly in the solar and wind industries, to be forced out of the market. The EU Commission is conducting investigations into several Chinese companies that allegedly receive state subsidies that distort competition. Beijing accuses the EU Commission of discrimination and emphasizes that the EU should comply with the rules of the World Trade Organization. China sees its exports of electric cars, batteries and photovoltaics as contributing to the global response to climate change.
Most recently, China's head of state and party leader Xi Jinping warned German Chancellor Olaf Scholz against economic protective measures during his visit to China. The German China strategy envisages reducing dependence in critical economic sectors. Despite concerns from French companies about market access, Beijing promised to import more high-quality products and services from the EU.