Translated by: MOS Translate Team-Wugangbuwei
The Chinese Communist Party’s government has provided subsidies for their strategic industries for a long time to ensure the competitive strength of the communist state. Biden administration claims that the policy of subsidies has distorted competition. Biden Ministration is investigating whether to impose sanctions.
Officials in the Biden administration included Katherine Tai, the Trade Representative, and Gina Raimondo, the Commerce Secretary, will assess the subsidy policy of Communist China and start a new investigation in the afternoon of the same day and quantify the damages to the U.S. economy. In addition, U.S. is also teaming up with Japan and E.U. to speed up the development of international rules.
The U.S. government is constantly condemning the policy of the industrial subsidies of Communist China, but no effective actions have ever been taken, which leads to the enormous Sino-America trade deficits. In the current mounting tension between Communist China and the U.S., the U.S. economic sanctions against Communist China will cause widespread concern.
Posted by: Ivy
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