MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM
MNI (BEIJING) - Beijing will take all necessary measures to protect Chinese firms interests regarding the U.S. House of Representatives’ upcoming vote on the annual defense bill, which this year includes more than USD3 billion to remove Chinese telecommunications equipment, He Yadong, spokesperson for the Ministry of Commerce said on Thursday.
U.S. allegations that Chinese information and communication products pose a security risk has no factual basis and interferes with the normal economic and trade cooperation between the two nations' enterprises, He told reporters.
The U.S. will inevitably impose tariffs on China next year and limit capital flows between the two countries as it pushes for a currency agreement to force yuan appreciation, a senior policy advisor told MNI. (See MNI INTERVIEW: China Faces US Tariffs, Capital Restrictions - Bonds & Currency News | Market News)