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 by Staff Writers Beijing (AFP) March 13, 2018
China on Tuesday dismissed Canadian accusations that it was flooding global markets with cheap steel, saying overcapacity in the industry was an international problem. Prime Minister Justin Trudeau said Monday that Canada was "very concerned" about actions taken by China and that his country has already taken steps to prevent "dumping". But Chinese foreign ministry spokesman Lu Kang responded Tuesday that Beijing "has taken practical measures to address the overcapacity in the steel industry and at very great expense." "But I should stress that overcapacity of the steel industry is a global issue and cannot be resolved by any single party alone," Lu told a regular press briefing. "We hope that all steel-producing countries can make concerted efforts to reduce the capacity of the steel industry. This calls for international cooperation." Canada's accusations came amid rising global trade tensions in the wake of US President Donald Trump's decision to impose steep tariffs on imported steel and aluminium. Canada -- the top supplier of steel and aluminium to the US market -- and Mexico have been temporarily exempted from the tariffs until trilateral continental trade talks conclude. China is Canada's second-largest trading partner after the United States. Trudeau's dumping accusations against Beijing, which echoed Trump's own message, come after exploratory talks with China failed to advance to bilateral free trade negotiations. Instead, Ottawa signed on to the 11-nation Trans-Pacific Partnership (TPP), which excludes both China and the United States, and entered into talks last week to join a South American trading bloc as part of a concerted push to diversify its trading relationships.
Despite tariffs, Trump takes softer tone with China Washington (AFP) March 8, 2018 While slapping duties on steel and aluminum imports, President Donald Trump struck a more conciliatory tone towards China, pointing to negotiations under way to trim Washington's soaring bilateral trade deficit with Beijing. "We're negotiating now with China. We're in the midst of a big negotiation. I don't know that anything is going to come of it," Trump said at the White House while rolling out the new trade barriers. "They have been very helpful. President Xi, I have great respect for, lot o ... read more
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