China asks US to offset trade loss due to metal tariffs

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GENEVA (March 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 (S$3.9 billion) of US imports — including agricultural, steel and aluminum products — and its ambassador to the US said...(click on link for full story on theedgesingapore.com)