The Financial Times reported that in the last fiscal year (ending in March), China announced at least 41 production and logistics projects in Mexico and 39 projects in Vietnam. Vietnam and Mexico have therefore replaced the United States as the preferred destinations for Chinese companies to implement projects. Thailand, Malaysia, Hungary and Egypt are also leading in this regard.
It is reported that since the United States imposed new tariff restrictions on imported Chinese goods, even small Chinese companies are seeking to expand their business in third countries.
On May 14, the White House Press Office announced that the United States will increase tariffs on steel, electric vehicles, computers, chips and other Chinese imports. The White House pointed out that these measures are aimed at encouraging China to "eliminate unfair trade practices in technology transfer, intellectual property and innovation." It is reported that the total tariff is US$18 billion.
On April 18, Dalip Singh, Deputy Assistant to the President for National Security for Global Economic Issues, said that the United States is trying to form the broadest possible alliance to influence China by seeking to change multiple aspects of the Chinese government's economic policies. Singh also pointed out that China has excess production capacity and the use of these production capacities is threatening the global market. The Chinese Ministry of Foreign Affairs called Singh's remarks "an attempt to suppress China's industrial development."