Hey everyone! In a bold move, Canada has announced new tariffs on steel products containing Chinese steel – a decision that’s stirring up the global trade scene. With a 25% tariff set on imports from non-U.S. countries, these measures kick in on August 1 as part of Canada's response to U.S. steel tariffs and worldwide steel overcapacity challenges.
A spokesperson from China's Ministry of Commerce fired back, describing the decision as a typical act of unilateralism and protectionism. The spokesperson stressed that the tariffs violate WTO rules, disrupt the international trade order, and jeopardize the steady economic cooperation between the Chinese mainland and Canada. They warned that such unreasonable and illegal measures could seriously harm ongoing trade relations.
Interestingly, the spokesperson noted that the real trouble for Canada's domestic steel industry started with the aggressive U.S. tariff measures – with Canada now trying to shift the burden onto partners like the Chinese mainland. As tensions heat up, Beijing has vowed to take all necessary measures to safeguard the legitimate rights of its enterprises. 🔥
Stay tuned for more updates as this trade tiff unfolds—it’s turning into a real-life global drama that even your favorite Netflix series can’t top!
Reference(s):
China denounces Canada's tariffs on products containing Chinese steel
cgtn.com
