BEIJING: China said on Wednesday ( Mar 12 ) it would take” all necessary measures” to protect its interests in response to new US tariffs of 25 per cent on steel and aluminium imports.
” China has always believed that corporatism offers no way out and that there are no victors in trade war and tax wars”, foreign department spokesperson Mao Ning said, when asked about the tariffs at a regular news event.
” The United States ‘ activities severely violate ( World Trade Organization ) laws, severely damage the rules-based international trading program and are not conducive to solving the problem”, said Mao.
” China may also take all necessary measures to protect its reasonable rights and interests”, she added.
US President Donald Trump’s 25 per cent duties on steel and aluminium exports took effect at 0401 GMT on Wednesday and mark a new level in the business war between the United States and its major trading partners.
China is the world’s leading metal company, though not a major producer of the solution to the United States.
Earlier this month, Trump raised a cover price of 10 per cent he recently imposed on all Chinese goods to 20 per share, provoking punitive taxes by Beijing on particular US agricultural products.