Following last week's announcements of steel and aluminum tariffs primarily directed at China and Canada, U.S. President Donald Trump today added that the "U.S.is acting swiftly on Intellectual Property theft", suggesting imminent action on a long-unresolved issue with China's government.
China described it as a "serious attack" on the system of global trade. As Trump's latest proclamations coincide with recent USA government efforts to keep Chinese hardware out of the U.S.' next-generation 5G cellular networks, analysts now speculate that a "5G wireless trade war" could break out between the countries.
"This move will harm the global steel industry, and seriously hurt consumers' interests", said the statement.
French Economy Minister Bruno Le Maire said there were "only losers" in a trade war.
Wang said all sides involved should demonstrate their political courage and make correct political judgements to continue efforts to alleviate tensions.
Trump has complained about low-priced Chinese exports of steel and aluminum, but the latest move was likely to hit Japan and South Korea harder.
Trump also announced increased tariff on steel and aluminum imports, imposing 25 per cent tariff on steel and 10 per cent tariff on aluminum, leading to a fall in the share prices of metal companies in India.
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Canada and Mexico are initially exempt from the tariffs amid ongoing talks to revise the 1994 North American Free Trade Agreement (NAFTA). Trump said the U.S. is going to stop the trans-shipping.
"It's inconceivable that Canada - which is a full partner of the United States in NORAD [and] in North Atlantic Treaty Organisation, is by USA law a part of the defence industrial base - it's inconceivable that we could represent a threat", she said. "I will seek more clarity on this issue in the days to come", she tweeted, noting an upcoming Saturday meeting with US Trade Representative Robet Lighthizer.
The diplomacy to be rolled out by President Xi Jinping as head of state this year will "write a whole new chapter" of major-country diplomacy with Chinese characteristics in the new era, Foreign Minister Wang Yi said.
Correspondents say Mr Trump is aiming to appeal to blue-collar voters in states such as Pennsylvania who turned away from the Democrats to support him in 2016.
The tariffs, signed Thursday by President Donald Trump, are "protectionism in the name of national security", said Wang Hejun, director of the Chinese Ministry of Commerce's Trade Relief and Investigation Bureau. No country violates its WTO commitments.
This may be one of a number of possible messages South Korean envoy Chung Eui-yong will deliver to US National Security Adviser H.R. McMaster in Washington this week, a South Korean diplomatic source told the Post, speaking on condition of anonymity.
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