US tariffs? Chinese steelmakers say they have other things to worry about
Beijing’s drive to tackle pollution and curb excess capacity is causing bigger headaches, according to steel industry representatives
Chinese steelmakers say US President Donald Trump’s move to slap across-the-board duties on steel imports is not a huge concern, given that China supplies just a small proportion of them.
They are more worried about Beijing’s campaign to fight pollution and curb excess steelmaking capacity.
We have other things to worry about – the United States is not our market
“We have other things to worry about – the United States is not our market,” said Zhang Wuzong, head of Shiheng Special Steel Group in eastern Shandong province.
Hou Jun, vice-chairman of the China Iron and Steel Association, which represents 80 per cent of the country’s steel producers, agreed that the US move would have a “limited” impact on Chinese companies.
Trump came the closest yet to a long threatened trade war this week, with his move to impose tariffs of 25 per cent and 10 per cent on all steel and aluminium imports at the final stage of confirmation.