Daily Management Review

Trump Warned By China On Issue Of Possible Import Tariff By U.S. On Steel And Aluminum


02/19/2018




Trump Warned By China On Issue Of Possible Import Tariff By U.S. On Steel And Aluminum
Action would be taken by China if high tariffs are imposed on import of steel and aluminum into the U.S. by President Trump, warned the second largest economy in the world.
 
Late last week, a recommendation for imposition of measures on the import of those metals to safeguard national security was proposed by U.S. Commerce Secretary Wilbur Ross. This is the latest indication of tough stands that the Trump administration is to take on trade. 
 
Trump has until mid-April to decide what to do.
 
"If the United States' final decision affects China's interests, we will take necessary measures to defend our rights," said Wang Hejun, a senior official at China's Commerce Ministry, according to a report Saturday by state-run news agency Xinhua.
 
There were not many details in the short news report that was published about the way China could respond to the threat. China is enjoying Lunar New Year holiday and government offices and businesses were closed at the time when Ross made the comment.
 
Trump is in the process of deciding how to act with regards to a number of investigations that were launched last year by his administration and in that light, experts are of the opinion that this year, there would be trade tensions between the U.S. and China. 
 
High import tariffs on solar panels and washing machines have already been imposed by Trump that has impacted business in China and a number of other countries. That move has resulted in cases being filed with the World Trade Organization by China and some of the other big exporters of those products.
 
There are a large number of U.S. companies that are very dependent on the huge market in China and those companies are fearful that a tit-for-tat attitude by China in retaliation to the measures imposed by Trump could result in those companies finding it difficult to do business in the Chinese market.
 
Investigations on the U.S. export of sorghum which is an agricultural product have been initiated by China ever since Trump imposed tariffs on solar panels and washing machines. China is also investigating the prospect of imposition of measures on styrene - a raw material that is used in making plastic.
 
Tariff om the import of soybeans from the U.S. - $14 billion worth of which was imported by China in 2016 or planes constructed by Boeing could be imposed by China is it got serious to counter the U.S threat, according to experts. Additionally, China can also make it difficult for U.S. companies to do business in China.  
 
However, there could be a knock-on impact on the Chinese economy by such measures and this is also being considered by Chinese leaders. The growing demand in the fast-growing Chinese aviation industry has prompted Chinese airlines to order a significant number of aircraft from Boeing while American soybean is used by Chinese farmers as feed for their livestock.
 
(Sourcec:www.bbc.com)






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