China calls for USA to withdraw trade tariffs on steel, aluminium

Donald Trump in China

"All in all, the direct impact on China is minimal", she said in a note published on Thursday.

Chinese Foreign Minister Wang Yi issued the stern message as the Trump administration geared up to formally introduce steel and aluminium tariffs as early as Thursday despite global concerns.

China's commerce ministry said on Friday (March 9) that it "resolutely opposed" a move by US President Donald Trump to impose tariffs on steel and aluminium imports and called for the United States to withdraw the measures as quickly as possible.

South Korea's trade minister, speaking at an emergency meeting, appealed to other governments to prevent a "trade war".

The Chinese Ministry of Commerce warned in a statement that it will take action against the new tariffs announced on Thursday - 25 per cent for steel imports and 10 per cent for aluminium - and will affect all countries that sell them to the USA with initial exemptions for Canada and Mexico, reports Efe news.

"China will certainly make an appropriate and necessary response", Wang said at a press conference on the sidelines of the Communist Party's annual parliamentary session.

"Especially in today's globalized world, a trade war is the wrong prescription", he said.

He did not elaborate on the measures that Beijing might take. China says Taiwan is simply a wayward province with no right to state-to-state ties. "They'll like us better". As a result, the trade surplus totaled CNY 224.8 billion.

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The trade gap has continued to rise since Trump entered the White House partly because the U.S. economy is strong and American consumers have an appetite for imported products and the confidence to buy them.

"We hope both parties will find a mutually beneficial solution through equality and constructive dialogue".

His departure leaves "nationalist" advisors like arch China sceptic Peter Navarro, author of "Death by China", and Commerce boss Wilbur Ross with the president's ear.

A looming trade war is certainly a downside risk to China's near-term trade outlook, but opinions are divided on whether the latest round of tariffs on steel and aluminium, which now comprise only 3% of China's exports, will create much of a disturbance.

In Beijing, officials continue to search for a way out.

When asked whether it has now abandoned its non-intervention policy, Wang noted that China's involvement will strictly follow the principals of peace and construction, before stressing that it will never interfere with the internal affairs of other countries.

The February surplus with the United States was $20.9 billion.

"He is not afraid of getting into a trade war although that is not what we want", Treasury Secretary Steven Mnuchin said in an interview Wednesday on the Fox Business Network. For the two-month period, the surplus expanded by 31% from a year earlier to 55.3 billion dollars (£40 billion).

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