China Blasts ‘Irrational’ Biden Trade Curbs, Vows Self-Reliance

(Bloomberg) -- China criticized the Biden administration’s flurry of trade restrictions on the country during its final days in office, saying the measures were “irrational and extremely irresponsible” and vowing a further push for self-reliance.

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The Chinese government “firmly opposed” the recent trade curbs, from export controls on semiconductors to the blacklisting and sanctioning of Chinese enterprises, the Commerce Ministry said in a statement on Wednesday. It warned that such “economic coercion and bullying” moves are causing damage to China-US relations and that Beijing will take measures to safeguard its interests.

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“Relying on sanctions, containment and suppression cannot stop China’s progress,” the statement said. “It will only strengthen China’s confidence and ability to be self-reliant and technologically innovative.”

The Biden administration has been rolling out a series of measures on China as trade tensions between the world’s two largest economies continue to increase in the run-up to Donald Trump taking office next week. On Wednesday, Washington unveiled a fresh round of regulations aimed at keeping advanced chips produced by Taiwan Semiconductor Manufacturing Co. and other producers from making their way to China. Last week, the US blacklisted Tencent Holdings Ltd. and Contemporary Amperex Technology Co. Ltd. among a slew of Chinese firms for alleged links to the Chinese military.

China’s pursuit of self-reliance has proceeded alongside the US urging its allies — including the Netherlands, Germany, South Korea and Japan — to further tighten restrictions on the country’s access to semiconductor technology and plug holes in existing export controls. The threat of increased tariffs in Trump’s second term as US President in 2025 also looms large, as an escalation of trade tensions may complicate China’s already sluggish economic recovery.

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