MNI BRIEF: China Steel To See Limited Impact From U.S. Tariffs

The U.S. decision to charge an additional 25% tariff on steel imports will not have a significant impact on Chinese steel exports, which reached 110 million tonnes last year, a record high, analysts at Shanghai Steel Market said on Monday.

The U.S. sales accounted for less than 1% of China’s total exports last year, the analysts noted. 

Beijing’s measured response to the 10% U.S. tariff on all Chinese goods signals its willingness to discuss a deal with Washington which would see the removal of recently-imposed trade levies in exchange for importing more American goods, policy advisors recently told MNI. (See MNI: China Targeting Negotiation, Removal Of All Levies)