China Urges Us To Drop Probe Into Copper Import Tariffs
China urged the United States on Thursday to drop an investigation into potential new tariffs on copper imports to help rebuild U.S. production of the vital metal, vowing to retaliate if Chinese entities are caught up in the levies.
President Donald Trump’s decision to direct the Commerce Department to launch a new national security probe under the same law he used during his first term to impose 25 percent global tariffs on steel and aluminum “will further undermine the rules-based multilateral trading system and disrupt the stability of the global industrial supply chain,” said He Yadong, a spokesman for China’s Commerce Ministry.
“The accusation that China uses subsidies and overcapacity to distort competition is completely groundless,” he told a news conference.
Trump wants to rebuild U.S. copper production because the metal is essential for making electric vehicles, military hardware, the power grid and many consumer goods.
His new probe would be conducted under Section 232 of the Trade Expansion Act of 1962.
“We urge the U.S. side to immediately withdraw its investigation,” he said.
"If the U.S. insists on imposing tariffs and other restrictive measures, China will resolutely take necessary measures to safeguard its legitimate rights and interests," he said, without elaborating.
Source: Investing.com
