China's Industry Associations Call For Swift Action Against US Aluminum, Steel Tariffs
Xu Wei
DATE:  Mar 09 2018
/ SOURCE:  Yicai
China's Industry Associations Call For Swift Action Against US Aluminum, Steel Tariffs China's Industry Associations Call For Swift Action Against US Aluminum, Steel Tariffs

(Yicai Global) March 9 -- China Iron and Steel Association, CISA, and China Nonferrous Metals Industry Association, CNMIA, today called on the Chinese government to take countermeasures against the U.S. after the latter's decision to impose tariffs on imported steel and aluminum products.

CISA called on the central government to take firm countermeasures on stainless steel, galvanized sheet and seamless pipes as well as coal, agricultural products and consumer electronics imported from the U.S. It also called on the whole iron and steel industry to take action and resolutely respond to the U.S. tariffs.

President Trump signed an order to impose tariffs on imported steel and aluminum products from all countries at the rates of 25 percent and 10 percent, with Canadian and Mexican products temporarily excluded, claiming that the imported steel and aluminum products have threatened U.S. national security.

In response, CNMIA strongly called for and recommended that the Chinese government adopt reciprocal countermeasures against U.S. protectionist policies and take countermeasures against the waste aluminum, coal, agricultural products and high-end consumer goods imports.

The U.S.'s adoption of protectionist policies on the ground of protecting the domestic steel industry undermines the World Trade Organization, WTO, rules and disrupts the international trade order, said a CISA official. Such behavior is not only harmful to the global steel industry, but also seriously damages the interests of steel product consumers, especially those of the U.S.

In recent years, iron and steel trade has become the hardest hit area of China-U.S. trade friction. The U.S. has taken dozens of anti-dumping and anti-subsidy measures against a dozen of products covering almost all major categories of Chinese steel products, with high tax rates close to prohibitive tariffs. This behavior is a challenge to the global steel industry and it will surely face greater opposition, the official added.

CNMIA strongly denounced President Trump's decision to impose a 10 percent global tariff on imported aluminum products.

The U.S. has imposed restrictions on imported aluminum products in various forms in recent years, which have provided over-protection to its domestic aluminum industry. Trump now adopts global restrictions on a wide range of aluminum products on the grounds of national security, which not only tramples on WTO rules and violates the principles of free trade, but also undermines the good relations of division of labor and cooperation established between countries and severely damages the interests of the global aluminum industry, CNMIA added.

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Keywords:   US,Steel,Aluminum,China Iron And Steel Industry Association,China Non-Ferrous Metals Industry Association