China: We support resolving trade disputes through negotiations

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GMT 1:05 2018 Althelaia March 6 : Last Updated

China: We support resolving trade disputes through negotiations

B. B. C.

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  Critics say the Trump plan could hurt jobs in the US steel industry

  AFP / Getty Images

 

 

Critics say the Trump plan could hurt jobs in the US steel industry

AFP / Getty Images

 

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China will not be silent about American damage to its economic interests

China has said it is against protectionist policies and supports the resolution of trade disputes through negotiations, but will "firmly protect" its legitimate rights and interests.

Chinese Premier Wen Jiabao said in a government work report on Monday.

On Thursday, US President Donald Trump announced his intention to impose high tariffs on his country's steel and aluminum imports to protect US producers.

The Trump plan sparked international criticism and negatively affected global financial markets.

Zhang Yisui, spokesman for the National People's Congress (NPC), said Sunday that his country does not want a trade war with the United States, but will not stand idly by if its economy is damaged.

Trump's plan is to impose tariffs, 25 percent on steel imports and 10 percent on aluminum imports.

Trump also threatened to impose tariffs on European cars, saying earlier that "trade wars are good, and makes it easier for the United States to win."

International criticism

The WTO criticized the Trump plan and warned the IMF that the move would hurt the United States and hurt other countries.

The IMF said other countries may follow Trump's example and argue that tough trade restrictions should be imposed on the defense of its national security.

Trump criticized his country's annual trade deficit of about $ 800 billion and attributed it to "very stupid business policies and deals" and vowed to end them.

EPA Trump said that "trade wars are good, and makes it easier for the United States to win"

Chinese official Zhang Yesui said it was normal to "have some differences" between the United States and China, taking into account trade volume between them, which exceeded 850 billion dollars last year.

But he stressed that China would take "necessary measures" if its interests were damaged.

Canada, the largest steel exporter to the United States, said the cartoons would create confusion on both sides of the border between the two countries.

Canadian Prime Minister Justin Trudeau criticized the tariffs as "totally unacceptable".

Canada is one of many countries that has announced that it will consider similar measures if President Trump goes ahead with his plan next week.

European Union officials said they were considering imposing customs tariffs, 25 percent on EU imports from the United States, estimated at $ 3.5 billion.

Brazil, Mexico and Japan announced that they were considering similar measures in response to the move.

Is Trump right about the trade imbalance?

The United States imports steel from more than 100 countries, such as the steel industry in the United States since 2000, as production and the number of workers in the industry are declining.

The United States is the largest market for EU exports of cars.