Cooperation, not conflict when it comes to trade. That was the word Wednesday from the Chinese Foreign Ministry. The Ministry said U.S. President Donald Trump's threat of tariffs on Chinese steel and aluminum imports would damage global trade. Let's take a listen.
GENG SHUANG, SPOKESMAN CHINESE FOREIGN MINISTRY "With both countries having such massive economies, such a high volume of mutual trade, and such a deep degree of joint mutual benefits, so within the domain of trade, to have some differences and friction, is difficult to avoid. But what's important is that we need to look at these with a rational and objective attitude and act in the spirit of mutual respect and fair benefits to have dialogue and consultation to appropriately handle and control the matter."
Geng also said that protectionism moves would harm the relevant countries and companies and damage the trade environment. Geng added that it would have a negative influence on the world's economic recovery. Trump is considering whether to impose restrictions on Chinese imported steel and aluminum to protect what he calls national security. U.S. steel makers recently urged the president to take action to reduce steel imports to curb global excess steel production capacity, largely in China.