Quick access to main page (top) Direct access to main contents Quick access to main page (bottom)

China Slams U.S. for Blocking Nippon Steel’s Acquisition, Calls It Protectionism

Daniel Kim Views  

China\'s state media strongly criticized the U.S. decision to block Nippon Steel\'s acquisition of U.S. Steel. Yonhap News
Yonhap News

China’s state media has strongly criticized the U.S. decision to block Nippon Steel’s acquisition of U.S. Steel, calling it a clear example of protectionism and suggesting that the U.S. is attempting to suppress its ally.

Xinhua News Agency criticized the U.S. government’s move, arguing that it prioritizes political benefits over economic principles. It further stated that the U.S. is engaging in a “tariff war” by maintaining protectionist policies that serve its national interests. The agency also pointed out that the U.S. continues implementing “decoupling” strategies to restrict the flow of advanced technology.

The criticism also invoked the Plaza Accord of the 1980s, which resulted in a substantial appreciation of the yen when Japan ran a significant trade surplus with the U.S., ultimately pushing Japan into a prolonged economic slump. By referencing this historical event, Xinhua emphasized the U.S.’s willingness to sacrifice its allies’ interests for its financial gain.

Xinhua further criticized the U.S.’s unilateral approach, arguing that it disrupts global supply chains and infringes on corporations’ legitimate rights. It also suggested that excessive protectionism has weakened the U.S. market’s competitiveness, using U.S. Steel’s current situation as an example.

China opposed U.S. protectionism, advocating for fair competition among nations on the global stage. The Ministry of Foreign Affairs of China underscored the importance of fair competition but refrained from commenting directly on the specific business deal between the U.S. and Japan.

Analysts view the seemingly pro-Japan stance taken by Chinese state media as a strategic diplomatic move to strengthen solidarity with major countries in anticipation of the tough trade policies expected under the upcoming Trump administration. Chinese experts have stressed the need for international solidarity in addressing the common challenges posed by such policies.

Daniel Kim
content@viewusglobal.com

Comments0

300

Comments0

[BUSINESS] Latest Stories

  • Honda's NSX Returns: A 1,000-Horsepower Electric Rival to Lexus LFR
  • Honda’s S7 Electric SUV: A Major Player in the Race for EV Dominance
  • Lamborghini's First EV: A 2,000-Horsepower Beast Built for Speed and Emotion
  • Ford Revives Classic Design with the 2025 Bronco Heritage Edition
  • ID.EVERY1: Volkswagen's $21K Electric Vehicle Aims to Make Green Driving Accessible
  • Toyota’s bZ3X SUV Surges with 10,000 Pre-Orders: A New Era in EVs

You May Also Like

  • 1
    Can’t Shake Those Dark Circles? Blame Your Allergies, Not Just Sleep

    LIFESTYLE 

  • 2
    Ventricular Tachycardia: The Fast, Irregular Heartbeat That Can Stop You Cold

    LIFESTYLE 

  • 3
    Food Addiction in Kids Tied to Low Self-Esteem and Poor School Performance

    LIFESTYLE 

  • 4
    Baby’s Here, But the Weight’s Still There? You’re Not Alone

    LIFESTYLE 

  • 5
    Inside the Pope’s Health Crisis: Antibiotic-Resistant Infection Fuels Global Concern

    LIFESTYLE 

Popular Now

  • 1
    Want to Lose Weight? Trick Your Brain with These Simple Diet Hacks!

    LIFESTYLE&nbsp

  • 2
    Turns Out, What You Eat at 40 Really Can Shape How You Feel at 70

    LIFESTYLE&nbsp

  • 3
    FDA Greenlights Sanofi's Qfitlia for Hemophilia—An Innovative Alternative to Daily Injections

    LIFESTYLE&nbsp

  • 4
    Prostate Cancer Screenings May Cut Death Risk in Half, Study Finds

    LIFESTYLE&nbsp

  • 5
    It’s Not Just Depression: Personality Disorders Linked to Highest Suicide Risk

    LIFESTYLE&nbsp

Must-Reads

  • 1
    Can’t Shake Those Dark Circles? Blame Your Allergies, Not Just Sleep

    LIFESTYLE 

  • 2
    Ventricular Tachycardia: The Fast, Irregular Heartbeat That Can Stop You Cold

    LIFESTYLE 

  • 3
    Food Addiction in Kids Tied to Low Self-Esteem and Poor School Performance

    LIFESTYLE 

  • 4
    Baby’s Here, But the Weight’s Still There? You’re Not Alone

    LIFESTYLE 

  • 5
    Inside the Pope’s Health Crisis: Antibiotic-Resistant Infection Fuels Global Concern

    LIFESTYLE 

Popular Now

  • 1
    Want to Lose Weight? Trick Your Brain with These Simple Diet Hacks!

    LIFESTYLE 

  • 2
    Turns Out, What You Eat at 40 Really Can Shape How You Feel at 70

    LIFESTYLE 

  • 3
    FDA Greenlights Sanofi's Qfitlia for Hemophilia—An Innovative Alternative to Daily Injections

    LIFESTYLE 

  • 4
    Prostate Cancer Screenings May Cut Death Risk in Half, Study Finds

    LIFESTYLE 

  • 5
    It’s Not Just Depression: Personality Disorders Linked to Highest Suicide Risk

    LIFESTYLE