Wed Sep 25 03:22:39 UTC 2024: ## US Tariffs on Chinese Tech Products a “Strategic Misstep”: China
**BEIJING** – China has denounced the US’s latest tariff hikes on Chinese tech products, calling them a “strategic misstep” that will harm both US and global economies.
The tariffs, set to take effect on September 27th, target key sectors like electric vehicles, solar cells, steel, aluminum, and EV batteries. China claims these measures are based on a misunderstanding of its innovation capacity and global economic landscape.
The Chinese government points to its robust innovation ecosystem, fueled by a vast talent pool, abundant resources, and advanced infrastructure, as evidence of its technological prowess. China boasts 26 of the world’s top 100 science and technology innovation clusters, maintaining its leadership in the Global Innovation Index for two consecutive years.
Furthermore, China emphasizes its complete manufacturing system, dynamic domestic market, and strong global partnerships, positioning it to continue its innovation cycle regardless of external pressure.
The popularity of Chinese electric vehicles in Southeast Asia, South America, and Europe, as well as the growing interest of global partners like Volkswagen and General Motors in Chinese EV technologies, demonstrates China’s competitive edge.
China warns that the tariffs will backfire, increasing costs for American consumers and businesses. Reports indicate US importers have already absorbed over 90% of the costs associated with previous tariffs, resulting in a cumulative loss of $221 billion for US businesses and consumers.
Rather than resorting to protectionism, China urges the US to focus on internal reform and development to address its own economic competitiveness challenges.
First Piper 