China hits back at U.S. over trade, says unilateralism is “unprecedented challenge”

REUTERS  REPORTS:

China hit back on Thursday at recent criticism from the United States about its trade practices, saying some countries’ unilateralism is an unprecedented challenge to global trade.

Ministry of Commerce spokesman Gao Feng also said that foreign and domestic firms are treated equally in China and that foreign firms should not have concerns about investing in China.

The comments come amid stepped up pressure on Beijing from Washington over trade and pledges by China to further open its markets to foreign investors.

“Some countries’ unilateral actions and calls for unilateralism are an unprecedented challenge to the multilateral trading system,” Gao said.

 The administration of U.S. President Donald Trump has begun to launch trade investigations under statutes seldom used in the World Trade Organization (WTO) era, including a “Section 301” probe of China’s intellectual property practices.

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