Beijing tells US firms to blame Washington for ‘tariff tensions’, hails China prospects

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Beijing tells US firms to blame Washington for ‘tariff tensions’, hails China prospects

Rallying the likes of Tesla, GE Healthcare and several other American firms just two days after retaliating against the latest US tariffs, Beijing implored the multinationals to “deliver voices of reason” and “address root causes”.

Sunday’s round-table chat was the latest high-profile assembly in recent weeks between authorities – as high up as President Xi Jinping – and business leaders, both domestic and international, as China looks to shore up economic growth and ease investor nerves amid an anxiety-inducing trade war that keeps getting worse.

Despite the unusual timing, coming at the end of a three-day public holiday, the gathering still featured representatives from more than 20 US firms, including medical-device-maker Medtronic.

China’s vice-minister of commerce, Ling Ji, chaired Sunday’s meeting after US President Donald Trump on Wednesday announced his new 34 per cent “reciprocal tariff” on Chinese goods.

“China’s retaliatory measures defend the interests of all firms – including American companies – while urging US compliance with multilateral trade rules,” said Ling, who is also China’s deputy international trade representative.

“Tariff tensions originate from Washington, and we encourage US businesses to address root causes, advocate reasonably, and act practically to stabilise global supply chains for mutual benefit.”

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