China will make ‘a justified and necessary response’ in event of US trade war
Beijing — China will respond as necessary in the event of a trade war with the US, Foreign Minister Wang Yi said on Thursday, while warning that such a war would only harm all sides. US President Donald Trump is expected to establish tariffs of 25% on imported steel and 10% on imported aluminium this week, but the White House has said there could be a 30-day exemption for Mexico and Canada and some other countries based on national security. Such a move aims to counter cheap imports, especially from China, that Trump says undermine US industry and jobs. Trump’s administration has faced growing opposition to the tariffs from prominent congressional Republicans and business officials worried about their potential effect on the economy. Trade tension with the US had jumped to the top of the list of risks facing China this year, Zhou Hao, senior emerging markets economist at Commerzbank, told the Reuters Global Markets Forum this week, and its latest data showed exports surging 44.5% in...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.