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18 AUGUST 2023 AL CIRCLE

China calls for immediate removal of US tariffs imposed on aluminium and steel products

EDITED BY : SARNALI CHAKRABORTY 2MINS READ

On August 16, China's trade ministry asked that the United States immediately ease tariffs on Chinese steel and aluminium imports. The ministry made the remarks in response to a World Trade Organisation (WTO) dispute resolution tribunal that found China placing higher taxes on select US products. According to the ministry, China has taken notice of the WTO panel's findings and is reviewing the report, with the main reason being "the unilateralist and protectionist behaviours" of the US side.

China calls for immediate removal of US tariffs imposed on aluminium and steel products

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In 2018, the Trump administration imposed 25 per cent tariffs on some steel imports and 10 per cent penalties on certain aluminium imports under Section 232 of the Trade Expansion Act of 1962. Since then, the US has not enacted absolute quotas, but US negotiators have examined alternate managed trade measures, such as tariff-rate quotas (TRQs), to reduce import quantities. 

To know more about how the aluminium industry will perform in the coming years, get your hands on AL Circle’s “Global Aluminium Industry Outlook 2023,” report, which attempts to provide insights into the global aluminium industry.

Global Aluminium Outlook

As per reports, the China Iron and Steel Association (CISA) and the China Nonferrous Metals Industry Association (CNMIA) asked the United States last year to mend its mistakes and build a constructive international trade environment. They had conveyed their gratitude and unwavering support for the WTO's ruling that US tariffs on Chinese steel and aluminium imports were illegal.


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EDITED BY : SARNALI CHAKRABORTY 2MINS READ

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