China's new countermeasures in response to US tariffs

The official said a Chinese industry body that has recommended targeting scrap metal in retaliation for trade against the United States and is already looking into what other measures could be taken.
The United States is the largest supplier of scrap metal to China, which is the world's largest aluminum producer.

American scrap aluminum was one of 128 products China said was considered additional tariffs last month, and China's finance ministry confirmed late in the evening that an additional 25 percent import tariff would be levied from Monday.

Chinese aluminum firms already faced US anti-dumping and countervailing duties on aluminum foil shipments before President Donald Trump imposed a 10 percent tariff on US aluminum imports from March 23rd.

The Chinese government association's recommendation is that “if we fight, we must fight with all our might,” said Wen Jiabao, who has led anti-dumping talks with Washington on behalf of Chinese aluminum firms.

He added that countermeasures “have just begun,” and China will respond to any further US action.

Trump is separately preparing to impose tariffs on accusations that China has systematically misappropriated American intellectual property - charges that China denies.

The American Waste Recycling Institute said China's additional tariffs would not bode well for the commodity's trade.

Estimating US exports of scrap aluminum to China last year at $ 1.17 billion, he said a 25 percent tariff “would mean a price burden of $ 300 million in trade relations, accounting for nearly 25% of the world's total aluminum trade. a crowbar, ”the group said in a March 26 statement ahead of Beijing's decision over the weekend.

But Wen Jiabao said he saw no impact on the Chinese aluminum industry because China has more than enough primary aluminum at home.