BEIJING — Ministry of Commerce (MOC) said on April 19 that the US action against China’s leading telecom equipment maker ZTE Corp will damage itself.
“The action targets China, however, it will ultimately undermine the United States itself,” MOC spokesperson Gao Feng told a news conference.
The United States will lose tens of thousands of job opportunities, while hundreds of related U.S. enterprises will also be affected, he said.
The act has fueled widespread concerns over US investment and the business environment, Gao said. “We hope the United States doesn’t fancy itself clever, or it will only reap the bitter fruits from what it has sown.”
The US Department of Commerce has imposed a denial of export privileges against ZTE Corp for alleged violations of the Export Administration Regulations.
Gao said the US side should not underestimate China’s determination.
“If the United States attempts to curb China’s development and force China to make concessions by sticking to its unilateral protectionism at the cost of harming the interests of Chinese and American enterprises, it miscalculates,” he said.
China’s resolute determination and confidence in defending the interests of China and its people will not swerve, he said. “We will fight resolutely.”