China’s State Council issued an 8,300-word white paper blaming the U.S. government for trade war escalation and expressing the desire for continued talks.
China has not yet announced what companies are on the list or what measures it would take against them.
The delivery company diverted packages of paperwork sent by Huawei to FedEx headquarters in Memphis, Tenn., instead of to Huawei offices in Asia. Foreign companies have meanwhile complained that China’s business environment is unfair, tilted by government support for state-owned companies and tolerance of domestic companies’ theft of intellectual property from foreign partners and investors.
“We are willing to satisfy other countries’ normal demands for rare earth. But if a country uses Chinese rare earth to make products that are then obstructing Chinese development, this is of course hard to accept," Wang said. China has invested heavily in rare earth processing, while the U.S. has no rare earth processing plants in operation.
During the press conference, Wang also disputed the Trump administration’s claims that the U.S.-China trade imbalance is unfair.
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