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China asks US to offset trade loss due to metal tariffs

Global Economy

China asks US to offset trade loss due to metal tariffs

Michelle Zhu Published on Tue, Mar 27, 2018 / 8:49 AM GMT+8

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GENEVA (Mar 27): China asked the US to provide compensation for lost trade due to President Donald Trump’s proposed tariffs on steel and aluminum, in a preliminary step that could lead to a dispute between the two nations at the World Trade Organization.

In two filings with the WTO on Monday, China dismissed the US assertion that the metal tariffs were instituted on national security grounds, arguing instead that they were safeguard measures -- temporary trade restrictions aimed at protecting domestic producers.

China responded to the US action by threatening to impose tariffs on US$3 billion ($3.9 billion) of US imports -- including agricultural, steel and aluminum products -- and its ambassador to the US said all options are on the table, though the Asian nation doesn’t want a trade war.

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China asks US to offset trade loss due to metal tariffs

Global Economy

China asks US to offset trade loss due to metal tariffs

Primary tabs

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China asks US to offset trade loss due to metal tariffs

Global Economy

China asks US to offset trade loss due to metal tariffs

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