Furious World Responds To Trump Tariffs, Vows Retaliation
by Tyler Durden
ZeroHedge.com
Fri, 03/02/2018
Trump may think that trade wars are “good and easy to win” but the rest of the world, which just happens to have a record trade surplus with the US (excluding petroleum)…
… disagrees, and judging by the barrage of reactions overnight from manufacturers and trade partners from China to Europe, is rather furious ahead of Trump’s import tariff order, expected to be signed next week.
Start with China, the world’s largest steel producer however only the 11th largest US source of imported steel…
Foreign Ministry spokeswoman Hua Chunying merely said in Beijing Friday that China urges the U.S. to follow trade rules. China’s Ministry of Commerce added that US restrictions on steel trade hurt the global trade system, and that Chinese steel exports to the US do not “harm US security.”
Chinese industry insiders, however, were far less restrained. The U.S. measures “overturn the international trade order,” Wen Xianjun, vice chairman of the China Nonferrous Metals Industry Association, said in a statement. “Other countries, including China, will take relevant retaliatory measures.”
Also in China, the vice chairman of China Iron and Steel Association, Li Xinchuang, called the move “a stupid trade protection measure.”
The Rest…HERE
