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China: US Inflation Reduction Act and CHIPS Act show 'no regard for other countries' - MOFA spox03:45

China: US Inflation Reduction Act and CHIPS Act show 'no regard for other countries' - MOFA spox

China, Beijing
December 2, 2022 at 15:26 GMT +00:00 · Published

Zhao Lijian, Spokesperson of the Chinese Ministry of Foreign Affairs (MOFA), commented on the US Inflation Reduction and CHIPS Acts during a press conference held in Beijing on Friday.

Zhao said: "The US legislation, designed to serve its own interests, shows no regard for other countries, not even its so-called allies and partners. This is yet another example of the US' domineering America-first approach".

The MOFA spokesperson also accused the US of initiating and benefiting from international conflict.

"Even the United States keeps saying that Europe is an important ally, but in fact, the US treats Europe as a catcher for disaster prevention. The United States made a fortune in the Ukraine crisis, while Europe lost blood in the Ukraine crisis, paying for inflation and high energy prices", Zhao said.

The Inflation Reduction Act, passed by Joe Biden's government in August, raised international leaders' concerns in the last days, as French President Emmanuel Macron reportedly tilted the law as 'super aggressive' during a meeting with his American counterpart on Wednesday. Nevertheless, Biden

The bill, passed in August 2022, aims to reduce living costs for the citizens and to fight climate change. It includes a tax redistribution, as well as large investments in social safety and subsidies to favor local products instead of imports. This last measure means business partners in Europe could be negatively affected.

China: US Inflation Reduction Act and CHIPS Act show 'no regard for other countries' - MOFA spox03:45
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Zhao Lijian, Spokesperson of the Chinese Ministry of Foreign Affairs (MOFA), commented on the US Inflation Reduction and CHIPS Acts during a press conference held in Beijing on Friday.

Zhao said: "The US legislation, designed to serve its own interests, shows no regard for other countries, not even its so-called allies and partners. This is yet another example of the US' domineering America-first approach".

The MOFA spokesperson also accused the US of initiating and benefiting from international conflict.

"Even the United States keeps saying that Europe is an important ally, but in fact, the US treats Europe as a catcher for disaster prevention. The United States made a fortune in the Ukraine crisis, while Europe lost blood in the Ukraine crisis, paying for inflation and high energy prices", Zhao said.

The Inflation Reduction Act, passed by Joe Biden's government in August, raised international leaders' concerns in the last days, as French President Emmanuel Macron reportedly tilted the law as 'super aggressive' during a meeting with his American counterpart on Wednesday. Nevertheless, Biden

The bill, passed in August 2022, aims to reduce living costs for the citizens and to fight climate change. It includes a tax redistribution, as well as large investments in social safety and subsidies to favor local products instead of imports. This last measure means business partners in Europe could be negatively affected.