July 22, 2024
KCNA Ministry of Foreign Affairs (EN)

China Dismisses US President’s Discriminatory Remarks on Its Home-made Electric Cars

Date: 19/06/2024 | Source: Ministry of Foreign Affairs (EN) | Read original version at source

Of late, the US president Biden said that Chinese government is heavily subsidizing its electric car industry to flood the US market with its products, and that they would not simply look on it.

The spokesperson for Chinese Foreign Ministry clarified China’s stand on the issue as follows:

New energy products of China including the electric car are greatly welcomed at the global market, and it owes to the efforts of relevant companies, not to the government subsidies.

China strictly abides by the rules of global trade in its policy of subsidies to industry and maintains the impartial, transparent and non-discriminatory principle in a consistent manner.

The U.S. has recently passed the “Chips and Science Act” and “Inflation Reduction Act” one after another and intervened in the allocation of market resources through direct or indirect subsidies worth hundreds of billions of US dollars to its businesses.

In conclusion, the spokesperson denounced that Washington’s discriminative approach to the China-made electric cars runs counter to the rules of global trade and destabilizes the global industry and supply chain, and stressed that China will firmly defend its legitimate rights and interests.

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