Government needs to retaliate on US tariffs: Chiense metal associations

Chinese metal producers are urging the Chinese government to react in a decisive manner to the tariffs imposed on US steel and aluminum imports that take effect in fifteen days following Trump's proclamation signing late Thursday. The China Iron & Steel Association and Nonferrous Metals Industry Association are both out with notes today that call on the Chinese government to act in retaliation to the tariffs.

Key highlights:

• Both associations are "strongly opposed" to the US' tariffs on imported steel.
• China Iron & Steel Association "appeals for the Chinese government to take resolute measures against imports of some US products including stainless steel, galvanized sheet, seamless pipe, coal, agriculture products, and electronic products."
• Adding further, "Trump's begaviour is a challenge to the global steel industry and will definitely encounter opposite from more countries."

Similar statements are to be expected from European metals associations when Europe comes on-line Friday, who collectively account for roughly 21% of all steel exports headed for the US.