Steel Overcapacity Is a Global Problem Not Exclusive to China, Foreign Ministry Says
Xu Wei
/SOURCE : Yicai
Steel Overcapacity Is a Global Problem Not Exclusive to China, Foreign Ministry Says

(Yicai Global) March 14 -- Excess steel production capacity is a global problem and not one that is unique to China, foreign ministry spokeswoman Lu Kang said in response to Canadian Prime Minister Justin Trudeau's claim that Chinese firms dump steel products in the North American country.

The efforts of one country alone cannot resolve the issue, Lu said, adding that China hopes all steel-making countries will work together to solve the problem by proportionately cutting iron and steel capacity.

Trudeau accused China of flooding global markets with cheap steel and said Canada was taking measures to prevent China from "dumping" products, a sentiment that echoes US President Donald Trump's remarks from a few days ago, global news agency AFP reported on March 12.

On March 8, Trump decided to impose high tariffs on imported steel and aluminum, and openly accused China of a lack of fairness and equality in its trade policies.

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Keywords: Lu Kang , Canada , Justin Trudeau , Steel