China Opposes Canada's Unilateral Tariff Measures on Steel Imports

Strategic Insights -

China's Ministry of Commerce has criticized Canada's decision to impose additional tariffs on steel imports from China, calling it a violation of World Trade Organization (WTO) rules and a disruption to the international trade order. The ministry stated that Canada's unilateral measures harm China's interests and are typical of protectionism. China has urged Canada to correct its practices and stop its restrictive measures to maintain the multilateral trading system and preserve economic and trade cooperation between the two countries.

Key Takeaways:

  • China's Ministry of Commerce has strongly opposed Canada's unilateral tariff measures on steel imports from China, calling them a violation of WTO rules.
  • The ministry stated that Canada's practices are unreasonable, illegal, and unhelpful, and will damage the normal economic and trade cooperation between China and Canada.
  • China has urged Canada to immediately correct its wrong practices and stop its restrictive measures.
  • China will take all necessary measures to resolutely safeguard the legitimate rights and interests of Chinese companies.
  • China's opposition to Canada's tariff measures is part of its broader concerns about protectionism and unilateralism in international trade.
  • The Canadian Ministry of Finance announced on July 16 that it will impose additional tariffs on steel imports from countries other than the US, including China.
  • The new tariffs will take effect on August 1 and will impose a 25% additional tax on products containing steel melted and cast in China.

Statistics:

  • On July 16, the Canadian Ministry of Finance announced that it will impose additional tariffs on steel imports from countries other than the US.
  • The new tariffs will take effect on August 1.
  • The 25% additional tax will be imposed on products containing steel melted and cast in China.
  • China's Ministry of Commerce has stated that China will take all necessary measures to resolutely safeguard the legitimate rights and interests of Chinese companies.

Sources:

  • Ministry of Commerce of the People's Republic of China (July 18)
  • Canadian Ministry of Finance (July 16)