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China says US tariffs 'a serious attack' on global trade system

AFP  |  Beijing 

today denounced US tariffs on and imports, saying that they would profoundly harm the environment. The US's "abuse" of national security concerns as a reason for implementing the measures will lead to "a serious attack on normal order", the said in a statement on its web site, adding that "is firmly opposed." US officially implemented the measures on Thursday, leaning on a little-used and decades-old national security clause in US Trump said the tariffs -- which will come into effect after 15 days -- will not initially apply to and Mexico, and that close partners on security and trade could negotiate exemptions. The tariffs, worth billions of dollars, sparked immediate protests from top trading partners the and Brazil, with retaliatory action expected from and other economic powers. The US buys only 2.7 per cent of its from the world's second largest economy, not even cracking the top ten list of foreign suppliers. Canada, America's neighbour to the north, was its single-largest source of last year, followed by Brazil, South Korea, Russia, Mexico, and was also by far the largest supplier of alumina and aluminium, followed by China, and the

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 09 2018. 09:15 IST
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