China vows to act after US calls for tariffs on steel products

China slammed a US plan to impose new restrictions on its steel and aluminum products, saying it will take action to protect the country’s interests. 

The US is “arbitrarily slapping tariffs on Chinese products,” politicizing economic issues and undermining the security of the global supply chain, the Ministry of Commerce said in the statement on Thursday. China urges US to stop increasing tariffs and pledges to take all necessary measures to defend its rights, it said.

The new tariffs US President Joe Biden is pushing — meant to shore up the American steel sector and court its workers — would impose 25% levies on certain Chinese steel and aluminum products. They would be applied as part of an ongoing review, while the US also launches a formal probe into China’s shipbuilding industry. 

Analysts said the steps would have minimal economic impact. Imports of Chinese steel and aluminum totaled roughly $1.7 billion in 2023, a small sliver of the overall market. Still, US officials said the announcements were designed to head off an expected surge and safeguard the US market.

Beijing earlier blasted a Biden administration plan to launch a formal review of its maritime, logistics and shipbuilding sector, calling the investigation a mistake “based on the need of domestic politics.”