The China Chamber of Commerce of Metals, Minerals - Chemicals Importers - Exporters (CCCMC) on Saturday voiced strong opposition to the unilateral imposition of mutual tariffs by the United States.In a statement, the CCCMC stated the relocation seriously breaches WTO rules and weakens the genuine rights and interests of WTO members.It also risks harming U.S.-China trade cooperation, inflating import costs for companies, worsening domestic inflation in the United States and heightening the possibility of an economic downturn in the United States, stated the chamber.
Trade wars produce no winners, it mentioned, adding that duplicated tariff walkings would fail to solve U.S.
domestic challenges while harming its financial growth.The chamber stated it firmly supports the Chinese government in taking all required economic countermeasures, and prompts the U.S.
government to right away revoke its unilateral tariff hikes.It also called its worldwide peers in the market, consisting of the U.S.
ones, to oppose the U.S.
administrations unilateral bullying trade practices and work together to alleviate the unfavorable effects of the trade war.(Cover: Ethanol production devices with 600,000-tonne yearly output at Tanxin Technology Co., Ltd.
in Huaibei, Anhui Province, east China, December 28, 2023.)