Chinese Foreign Ministry Spokesperson Lin Jian
"Trade and tariff wars have no winners and undermine the interests of people from all countries. We firmly oppose the US unilateral tariff hikes,
MK sport" Chinese Foreign Ministry spokesperson Lin Jian said at a regular press conference on Wednesday.
He made the remarks in response to reports that US President Donald Trump on Tuesday signed a new order directing US Commerce Secretary Howard Lutnick to initiate a national security investigation into potential new tariffs on copper imports under Section 232. Reuters reported that White House trade advisor Peter Navarro accused China of relying on state subsidies and overproduction to dominate global copper production.
Lin said that the two sides need to address each other's concerns through dialogue and consultation on the basis of equality and mutual respect. China will continue to do what is necessary to firmly safeguard its legitimate rights and interests.
Copper is a crucial industrial material widely used in the production of electrical and electronic products, transportation equipment and industrial machinery.
The probe marks the latest action taken by the Trump administration, which has already reinstated a 25 percent tariff on steel imports and increased tariffs on aluminum to 25 percent.
Experts caution that while China's copper industry and exports may not be directly affected by the US tariffs, the broader implications could severely disrupt global supply chains.
The US tariff probe related to copper could have negative consequences on the global trade system, similar to the damage caused by previous tariffs on steel and aluminum, a Chinese expert at the Chinese Society for Metals, who asked to remain anonymous, told the Global Times on Wednesday.
The Trump administration has accused China of using state subsidies and excess capacity to dominate global copper production, according to Navarro. However, major suppliers of copper to the US include Chile, Canada and Mexico, not China, according to a Reuters report.
China's exports of copper products to the US are relatively small, meaning that the possible US tariffs could only have a minor impact on China, but the potential fallout from US tariffs could have ripple effects across global industries, said the expert.
Lutnick defended the move, according to a New York Times report, saying that "Tariffs can help build back our American copper industry and strengthen our national defense." However, experts argued that such a tariff strategy might not achieve its intended goal of revitalizing US copper production.
"Tariffs may drive uncertainty in global trade and ultimately harm US consumers," Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Wednesday.
The development of industries like copper is based on global competition, and companies could earn more profits in a protected domestic market through tariffs, but will not be able to build a strong competitive edge, said Zhou.
As a result, protectionism will only lead to higher prices for American consumers, without making US industries more competitive, Zhou added.
Consumer confidence in the US fell at its fastest pace in over three years, according to a February Conference Board survey, as the potential negative economic consequences of Trump's tariffs became more evident. Surveys have consistently cited tariffs as a significant issue for both households and businesses, said a Reuters report.
In a letter sent on February 19 to Secretary Lutnick, Chinese Commerce Minister Wang Wentao emphasized the importance of stable economic and trade relations between the two largest economies, and warned that the US' unilateral tariff measures undermine normal economic and trade cooperation between the two countries. China hopes to address mutual concerns through equal dialogue and consultation, the minister noted.
Global Times
