Trump's pro-American trade policy is just what he promised

Trump's pro-American trade policy is just what he promised

He said the United States has raised concerns over South Korea's "transshipment" of Chinese steel, although the trade ministry has argued that only 2.5% of steel exported to the United States uses Chinese material.

The surplus with the USA stood at $21 billion in February, China's official data showed, more than double the $10.4 billion surplus registered in February of past year.

China remains committed to non-interference, Wang said, arguing that those in the West who are alarmed by China's growing clout and overseas activity are affected by bias.

The surprise announcement of the tariff plan last week caused stock markets to fall sharply as investors feared a trade war.

Trump on Thursday pressed ahead with the imposition of 25% tariffs on steel imports and 10% for aluminium on Thursday, though he announced exemptions for Canada and Mexico, and said exceptions could also be made for other allies.

Chinese Foreign Minister Wang Yi criticized the US's decision to brand the country as a "strategic competitor", dismissing the notion that it poses a threat to the world's biggest economy.

"He is not afraid of getting into a trade war although that is not what we want", Treasury Steven Mnuchin said in an interview Wednesday on the Fox Business Network.

"The outcome will only be harmful". "China would have to make a justified and necessary response".

On the Korean Peninsula, Wang claimed success for China's proposal for a "dual suspension" of North Korean nuclear activities in return for a suspension of South Korea-US war games.

Trump's administration has faced growing opposition to the tariffs from prominent congressional Republicans and business officials anxious about their potential impact on the economy.

Tuesday's resignation of Trump's top economic adviser Gary Cohn-who had held talks with Liu during his visit-also throws cold water on the negotiations.

China warned the United States today that everyone will be harmed if President Donald Trump launches a trade war, even as official figures showed the Asian power maintained a robust trade surplus with the US. That left it with a global trade surplus of $33.74 billion, and a January-February surplus with the United States of $42.92 billion. Our relationship with China has been a very good one, and we look forward to seeing what ideas they come back with. "But there are few alternative sources for the main products the USA buys from China", the research firm said in a note on Wednesday. China accounts for only a small fraction of USA steel imports, but its massive industrial expansion has helped create a global glut of steel that has driven down prices.

In coming weeks, the Trump administration plans to issue a report on China's intellectual property practices expected to hammer China and possibly bring about further tariffs on a wider range of Chinese imports.

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