GENEVA (Mar 27): China asked the US to provide compensation for lost trade due to President Donald Trump’s proposed tariffs on steel and aluminum, in a preliminary step that could lead to a dispute between the two nations at the World Trade Organization.

In two filings with the WTO on Monday, China dismissed the US assertion that the metal tariffs were instituted on national security grounds, arguing instead that they were safeguard measures -- temporary trade restrictions aimed at protecting domestic producers.

China responded to the US action by threatening to impose tariffs on US$3 billion ($3.9 billion) of US imports -- including agricultural, steel and aluminum products -- and its ambassador to the US said all options are on the table, though the Asian nation doesn’t want a trade war.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook