Lawmakers Caution Trump On Steel Trade Restrictions

At least seven Republican lawmakers at the White House meeting Tuesday urged Trump to be cautious about taking any action that could set off a trade war with China or other countries.

US President Donald Trump said on Tuesday that he is weighing a range of options, including tariffs and quotas, to address steel and aluminum imports that he said were unfairly hurting US producers.

The US president was presented last month with two Commerce Department reports concerning alleged Chinese subsidies for steel and aluminum exports, whose findings have not been made public.

According to United States statistics, nearly 222 of the existing trade remedies in effect in the U.S. were for steel products by the end of January 2018, accounting for more than 50 percent of all trade remedy measures conducted by the country, covering almost all imported steel products.

In a statement published on the MOFCOM website, Wang said excessive protection is not a remedy and will only lead to a "vicious circle" of trade actions.

The investigations are seen to primarily target China, which the USA blames for creating excess capacity and dragging down global prices.

Those deposits will be applied to tariffs if the ministry decides in a final ruling to levy such duties. The material is the building block of many plastics including foam packaging and many disposable plastics. It is used to make foam packaging and many disposable plastics.

China purchased 3.2 billion kilograms of the chemical from the U.S. worth more than $4 billion in 2017.

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During a meeting at the White House with a group of United States lawmakers, Trump delivered a strong signal that he will take some action to protect the domestic steel and aluminum industry.

Trump said during a meeting with lawmakers at the White House.

More are expected soon.

Trump has frequently accused China of unfair trading practices, and he recently told Chinese President Xi Jinping that the US trade deficit with China is "unsustainable". And China this month singled out American sorghum for an anti-dumping investigation, showing that it can hit America where it hurts Mr Trump in particular.

In addition to a visit from Chinese State Councilor Yang Jiechi to Washington last week, China has been stepping up communication with the administration through the U.S. ambassador in Beijing, Terry Branstad.

China is seen as America's longtime rival for diplomatic influence and military dominance in Asia.

"And when they sell to us, zero", Trump said during the meeting in the Cabinet room.

  • Megan Austin