• China’s foreign minister calls for the U.S. to remove tariffs and sanctions

Market news

22 February 2021

China’s foreign minister calls for the U.S. to remove tariffs and sanctions

CNBC reports that China’s Foreign Minister Wang Yi called on the new U.S. administration to stop the “suppression” of Chinese technology companies, as he laid out conditions for U.S.-China cooperation going forward.

Citing national security concerns, former U.S. President Donald Trump sanctioned dozens of Chinese companies in the last three years.

China would like the U.S. to remove tariffs and sanctions on companies, and “abandon irrational suppression of China’s technological progress, so as to create necessary conditions for China-U.S. cooperation,” Wang said.

Wang also called for the U.S. to support international Chinese students and remove restrictions on cultural groups and media outlets in America.

While it remains unclear what exact action U.S. President Joe Biden might take, he has maintained a firm tone since taking office about a month ago.

Biden told European allies in a speech Friday that “we must prepare for long-term strategic competition with China.”

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