21:44 GMT +322 April 2018
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    Magazines featuring front pages of US President Donald Trump (L) and China's President Xi Jinping (R) are displayed at a news stand in Beijing

    China Expects US to Roll Their Tariff Policy Back to WTO's Rules

    © AFP 2018 / NICOLAS ASFOURI
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    BEIJING (Sputnik) - China hopes the United States to abolish recently imposed tariffs on steel and aluminum as soon as possible in order to return the trade between the two countries back to normal, Chinese Commerce Ministry said in a statement on Monday.

    "We hope that the US will abolish as soon as possible the measures that contradict the rules of the World Trade Organization [WTO], this will facilitate the return of trade in relevant goods between the US and China to a normal state," the ministry said in a statement.

    Chinese officials noted that the partial suspension of fulfillment of China's obligations to the United States corresponds to its legitimate rights as a WTO member.

    On Sunday, the ministry informed that Beijing would introduce import tariffs on 128 US products starting on April 2 in response to Washington's recently imposed trade barriers, in order to protect its interests and compensate for damage from Washington's tariffs.

    Last month, US President Donald Trump signed an order to impose a 25-percent tariffs for steel imports and 10-percent for aluminum imports. The measures have taken effect on March 23.

    The new tariffs would be in place for an indefinite period of time, but the European Union and six other US allies, including Argentina, Australia, Brazil, Canada, Mexico and South Korea, were given a temporary exemption until May 1.

    Both steel and aluminum sectors have been struggling to cope with China-driven global overcapacity in recent years. Many steel and aluminum plants worldwide had to shut down amid low prices.

    In response, the United States and the European Union have been imposing numerous anti-dumping and safeguard duties on metal supplies from China and other countries.

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    impact, trading, economy, increase, tariffs, trade war, World Trade Organization (WTO), United States, China
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