(MENAFN) According to a report by Bloomberg, the Biden administration has surpassed its predecessor in blacklisting Chinese entities and individuals amid the ongoing trade dispute between the United States and China. The report highlights that the United States Department of Commerce added eight Chinese companies to its export blacklist in February, surpassing the record set during the Trump presidency. This trend continued with the addition of six more entities this week, bringing the total number of new targets under the Biden administration to 319, compared to 306 during Trump's tenure.
The escalating trade tensions between the world's two largest economies date back to 2018 when former President Trump initiated a series of tariffs on Chinese imports, citing unfair trade practices and intellectual property theft by Beijing. President Biden has maintained a tough stance on trade with China, retaining tariffs imposed by his predecessor while intensifying pressure on Beijing, particularly in sectors related to innovation and artificial intelligence.
The Chinese government has vehemently opposed Washington's policies, characterizing the restrictions as attempts to stifle the development of China's economy, the second-largest in the world. Chinese Ministry of Commerce spokesman He Yadong condemned the United States export controls as "typical economic coercion and unilateral bullying behavior," underscoring Beijing's resistance to what it perceives as unjustified measures aimed at undermining its economic growth.
The escalating tit-for-tat actions between the United States and China underscore the deepening rift in their economic relationship, with both sides employing punitive measures in response to perceived grievances. The Biden administration's continuation and intensification of blacklisting Chinese entities signal a commitment to addressing longstanding issues in trade relations, further complicating efforts to de-escalate tensions and find common ground between the two economic powerhouses.
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