China's Mofcom calls for U.S. to withdraw trade tariffs on steel, aluminum

Published 2018-03-08, 07:39 p/m
© Reuters.  China's Mofcom calls for U.S. to withdraw trade tariffs on steel, aluminum

SHANGHAI, March 9 (Reuters) - China's commerce ministry said on Friday that it "resolutely opposed" a move by U.S. President Donald Trump to impose tariffs on steel and aluminum imports and called for the United States to withdraw the measures as quickly as possible.

On Thursday Trump pressed ahead with import tariffs of 25 percent on steel and 10 percent for aluminum but exempted Canada and Mexico and offered the possibility of excluding other allies, backtracking from an earlier "no-exceptions" stance.

China's Ministry of Commerce said China would assess any damage caused by the U.S. move and "firmly defend its legitimate rights and interests". It added that the tariffs would "seriously impact the normal order of international trade".

Trade tensions between China and United States have risen since Trump took office. China accounts for a small fraction of U.S. steel imports, but its huge industrial expansion has helped create a global glut of steel that has driven down prices.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.