Market News
China strongly opposes US restrictions on aluminium & steel products
China has strongly opposed the United States imposing new restrictive measures on Chinese aluminium and steel products, condemning the move as unilateral and protectionist. The announcement came from China's Commerce Ministry, which denounced the US actions and labelled the accusations against China as groundless.
According to a ministry spokesperson, the newly imposed measures could triple tariffs on Chinese steel and aluminium products. The spokesperson emphasised that the US's actions ignore the established international economic and trade order and violate established rules. Furthermore, the statement criticised the US for politicising economic and trade issues and abusing procedures such as the Section 301 tariff review process.