US may impose tariffs on imports of steel and aluminum from China

Almaty. July 18. Silkroadnews – The United States may impose tariffs and quotas on imports of steel and aluminum from China, South China Morning Post reported.
“The US could impose quotas and tariffs to further block Chinese steel and aluminium imports into the American market, in a sign of the Trump administration’s dissatisfaction and impatience with limited progress in the sides’ ongoing trade talks”, the report said.
Introduction of quotas and tariffs, as reported, was stated by the US President Donald Trump during his visit to Paris.
“US President Donald Trump labelled China’s steel and aluminium imports as “dumping” last Thursday during a flight from Washington to Paris. Trump said: “They’re dumping steel and destroying our steel industry, they’ve been doing it for decades, and I’m stopping it. It’ll stop…There are two ways - quotas and tariffs. Maybe I’ll do both””, publication notes.
On Wednesday in Washington the US and China intend to complete the 100-day talks aimed at resolving bilateral trade disputes and issues of market access through the high-level economic dialogue. It is expected that during the talks the problems of China’s overcapacity issues, including the export of steel and aluminum, will also be discussed.
The first mutual agreements were reached in May allowing export of some American products, such as beef and natural gas, as well as some financial services, to China. After that, progress in the negotiations slowed down.
According to the publication, the US Commerce Department studies the effects of steel and aluminum imports on the country’s security since March 2017. Some experts say the US market may be completely closed for Chinese steel and aluminum.
Data released in March by the US Commerce Department, China is not among the top 10 foreign importers in the United States. Nevertheless, the US has already introduced many anti-dumping rules that have constrained imports of goods from the PRC.
The bilateral trade deficit between the US and China is said to amount to nearly $340 billion.