Tariff Photo:VCG

 
The US' 25 percent tariff on all steel and aluminum imports is essentially a protectionist act that will not protect the US' steel industry but may instead shield its backwardness, said the China Iron and Steel Association (CISA). 

Zhang Longqiang, deputy secretary-general of the CISA, expressed firm opposition to tariff hikes, stating that such actions are detrimental to healthy, fair trade and market competition, according to China Media Group (CMG). 

Additionally, from a medium to long-term perspective, the increase in tariffs will have adverse effects on the industrial and supply chains of the global steel industry, including China's steel industry, Zhang noted.

However, the impact on China's steel exports in the short term is limited, as the US accounts for a small portion of China's overall steel trade. In 2024, China's steel exports to the US amounted to 890,600 tons, accounting for only 0.8 percent of China's total steel export volume, the CISA said, according to the CMG report.  

In the long run, the US' decision may encourage other countries to adopt similar measures, potentially weakening the competitiveness of Chinese steel exports, the CISA said. 

Also on Thursday, China's Ministry of Commerce condemned the recent US decision to impose a 25 percent tariff on all steel and aluminum imports as a typical act of unilateralism and protectionism, and urged the US to correct its wrong approach and return to the right track of the multilateral trade system.

Global Times