China's metals industry group voices firm opposition to U.S. 'reciprocal tariffs'

The China Chamber of Commerce of Metals, Minerals & Chemicals Importers & Exporters (CCCMC) on Saturday voiced strong opposition to the unilateral imposition of "reciprocal tariffs" by the United States.

In a statement, the CCCMC said the move seriously violates WTO rules and undermines the legitimate rights and interests of WTO members.

It also risks harming U.S.-China trade cooperation, inflating import costs for businesses, exacerbating domestic inflation in the United States and heightening the probability of a recession in the United States, said the chamber.

"Trade wars produce no winners," it stated, adding that repeated tariff hikes would fail to resolve U.S. domestic challenges while harming its economic growth.

The chamber said it firmly supports the Chinese government in taking all necessary economic countermeasures, and urges the U.S. government to immediately revoke its unilateral tariff hikes.

It also called its global peers in the industry, including the U.S. ones, to oppose the U.S. administration's unilateral bullying trade practices and work together to mitigate the negative impacts of the trade war.

(Cover: Ethanol production equipment with 600,000-tonne annual output at Tanxin Technology Co., Ltd. in Huaibei, Anhui Province, east China, December 28, 2023.)