US decision on customs duties for Chinese chips

A move from the USin the field of customsduties has come thatangered China. A statement from the Office of the United States Trade Representative (USTR) titled "China's Acts, Policiesand Practices Related to Technology Transfer, Intellectual Property, and Innovation in the SemiconductorSector" was released.titled "Acts and Practices"inthe statement, it was argued that China aims to establish dominance in the chip industry,and that "China's semiconductor industry under monopolyThe statement included the remarks that "the goal of taking them under control is irrational, complicates or restricts US trade, and therefore may be subject to litigation."

Despite this, it was stated thatit would be appropriateto initially apply a 0 percent customs dutyon semiconductorscoming from China,and the announcement added, "This rate will be at least 30 percent on June 23, 2027."to be announced in advanceat a rate tobe increased," it was stated. The US press evaluated the Washingtonadministration's decision to implement new customs duties on chips from China in approximately 18 months as a step toward reducingthe trade tensionexperienced with Beijing.

Reaction from Beijing was swift: "We strongly oppose this"

The US China's semi-conductor sect-or targeting planwas met with aswift response from the Beijing administration. A statement from the Chinese Ministry of Foreign AffairsThe statement emphasized that Beijing is "strongly opposed" to the US measure in question, stating that "this US practice is destabilizing global industrial and supply chains, and harming other countries' semiconductor industries.restricting its industry andserving no one'sinterests," it wasassessed.

China called on the USto correctits mistake.

Warning the US not to escalate tensions between the twocountries, the statement said, "We urge the US to correct its mistakes,act in accordance with the importantconsensus reached between the presidents of China and the US, uphold the principles ofequality, respect, and mutual benefit, address mutual concerns through dialogue, properly manage differences,and steer China-US relationsWe call for keeping relations on a stable, sound, andsustainable path," the statement said.In the statement, which called on the US to reversethis wrong decision,it was stated that,"If the US continues to move down the wrong path, China willlegitimate rights and interests to defendnecessary measures will be taken," the statement read.

News Source: 12punto