China files complaint over US metal tariffs

CHINA IS filing a complaint with the World Trade Organisation against US tariffs on steel and aluminium products.

The Geneva-based trade body said China has requested 60 days of consultations with the US to resolve the dispute.

If the two sides cannot agree on a solution, the next step could be for Beijing to request a ruling from a panel of trade experts.

China claims the duties of 25 per cent on imports of steel and 10 per cent on imports of aluminium products breach international trade rules.

Earlier, president Xi Jinping promised to cut China’s vehicle import tariffs and improve intellectual property protection in possible concessions aimed at heading off a global trade war.

Speaking at a business conference, Mr Xi made no direct mention of his American counterpart, Donald Trump, or the dispute.

He promised progress on areas that are US priorities including opening China’s banking industry and boosting imports but did not address key irritants for Washington such as a requirement for foreign companies to work through joint ventures that require them to give technology to potential local competitors.

Mr Xi tried to position China as a defender of free trade and cooperation, in response to Mr Trump’s “America first” calls for import restrictions and trade deals favourable to the US.

“China’s door of opening up will not be closed and will only open wider,” Mr Xi said at the Boao Forum for Asia on the southern island of Hainan.

Mr Xi said Beijing will “significantly lower” tariffs on vehicle imports this year and ease restrictions on foreign ownership in the car industry “as soon as possible”.