Lin Weilong, director of the Policy Research Office from China's Ministry of Commerce (#MOFCOM#) on Tuesday rejected a #US# Section 301 investigation into the so-called "overcapacity" issue, saying on Tuesday that the move was a typical act of unilateralism that seriously undermines the international economic order. #China# will closely monitor developments and reserves the right to take necessary measures to firmly safeguard its legitimate rights and interests, said Lin Weilong, director of the Policy Research Office of the MOFCOM.

SITUATION EXPLAINED: China is threatening to retaliate against potential US sanctions on AI models. • China's Ministry of Commerce (MOFCOM) called the sanction threats a "smear campaign" representing "typical acts of AI hegemony," vowing "all necessary measures" to safeguard its interests • This follows Scott Bessent's threat to examine Chinese AI models for IP theft, echoing accusations from both OpenAI and Anthropic that Chinese labs used their models to train rival systems • MOFCOM's language here is nearly identical to statements it's issued in at least five separate US-China tech disputes since 2020, including Huawei sanctions and prior Entity List additions, genuinely recycled diplomatic boilerplate • "China's Final Warning" is a Soviet-era ironic idiom for a warning that carries no real consequences • The statement does end on a more conciliatory note, calling on the US to strengthen AI dialogue and jointly improve governance of the technology @theojaffee: "What is China gonna do if the US sanctions Chinese models? I actually do think this time they're relatively more powerful than they were in the '70s, and they may very well respond. But it's unclear what they'll do." @schisofrenia: "Just scale up more aggressively in the Third World or the middle powers or something."

Breaking: Terawulf is surging today after securing a multi-year Anthropic lease that is projected to generate $19,000,000,000 in revenue $WULF has added ~$1,850,000,000 market cap today

The Chinese and US economic and trade teams have achieved preliminary outcomes in the economic and trade field, including agreeing to establish a Trade Council and an Investment Council to discuss each side's respective concerns in the areas of trade and investment. The two sides will discuss issues including tariff reductions on relevant products through the Trade Council, and agreed in principle to reduce tariffs on products of equal scale that concern each side, a spokesperson for China's Ministry of Commerce said on Saturday, when briefing the media on China-US economic and trade consultations held in South Korea on May 13. MOFCOM noted that the two sides also agreed to promote the expansion of two-way trade, including in agricultural products, through arrangements such as mutual tariff reductions on products within a certain scope. The two sides reached relevant arrangements regarding China's procurement of aircraft from the US, as well as the US side ensuring the supply of aircraft engines and components to China, and agreed to continue advancing cooperation in related fields, the spokesperson said.