US Tariffs and the Auto Parts Trade

Recently, the US government announced a 10% tariff on Chinese imports to the US, citing fentanyl and other issues. This is a serious violation of WTO rules and has brought many impacts on China's foreign trade exports. The imposition of tariffs will directly increase the cost of Chinese export enterprises, reduce profit margins, and increase the operating pressure of some enterprises with meager profits. At the same time, the original stable supply chain has been disrupted, and enterprise orders have decreased and export volumes have declined. In this regard, the China Chamber of Commerce for Import and Export of Mechanical and Electrical Products solemnly declared that it strongly opposes this act of the United States. The Ministry of Commerce has also appealed the US tax measures to the WTO dispute settlement mechanism and taken countermeasures. Trade cooperation should be a win-win rather than a zero-sum game. We hope that the United States will abandon trade protectionism and return to the right track of resolving differences through dialogue and consultation on an equal footing.