"We Will Protect Our Rights and Interests with All Necessary Measures"
On the 12th, China announced that it will take all necessary measures to protect its legitimate rights and interests in response to the 25% tariffs imposed by the Donald Trump administration on steel and aluminum.
Mao Ning, spokesperson for the Chinese Ministry of Foreign Affairs, said at a regular briefing that day, "The actions of the United States seriously violate the rules of the World Trade Organization (WTO) and severely undermine the rules-based multilateral trading system, which does not help resolve the issue."
He added, "China has always believed that there is no way out for protectionism, and there are no winners in trade wars and tariff wars," calling this "a universal and common understanding of the international community."
US CNN pointed out that China is the only country subject to tariffs far exceeding 25% on steel and aluminum imposed by the United States. The US imposes an additional 20% tariff on all Chinese products, bringing the total steel-related tariff rate imposed since President Trump's inauguration to 45%.
According to the US International Trade Administration (ITA), as of last year, China's steel exports to the US amounted to $800 million (approximately 1.16 trillion KRW), ranking tenth among all countries. Despite being the world's largest steel producer, the volume of steel imported by the US from China is extremely small according to statistics. However, some Chinese steel is reported to enter the US via third countries or under the origin of other countries.
The aluminum export volume is $770 million (approximately 1.118 trillion KRW, 4%), making China the fourth largest aluminum exporter to the US.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
