U.S. politicizing trade issues is another mistake: Chinese FM

(ECNS) -- Chinese foreign ministry spokesperson Wang Wenbin stressed on Wednesday that it is yet another mistake for the U.S. to continue politicizing trade issues and further increasing tariffs on Chinese products.

U.S.’s recent tariffs hike on Chinese EVs, chips and other products will only significantly drive up the cost of imported goods, inflict more loss on American companies and consumers, and make the U.S. consumers pay even more, Wang said.

As Moody’s estimated, 92 percent of the cost for the tariffs hike falls on American consumers and average U.S. household expenditure increases by 1,300 dollars annually. The U.S.’s protectionist measures will further damage the security and stability of the global industrial and supply chains, the spokesperson added.

“We noted that several European political leaders have said that as far as tariffs are concerned, it is a bad idea to dismantle global trade,” Wang said.

“We urge the U.S. to earnestly observe WTO rules and immediately cancel the additional tariffs on China. China will take all measures necessary to defend our rights and interests,” he concluded.