Report: Trump Twice Said No Deal to China on Offer to Reduce Steel Capacity
08/29/2017 - U.S. President Donald Trump apparently wants tariffs on imported Chinese steel so much so that he rejected an offer from Chinese leaders for additional capacity cuts, reports the (London) Financial Times.
According to the Financial Times, Chinese leaders, in the week following the Group of 20 Summit in Germany, offered to reduce capacity by 150 million metric tons by 2022. But Trump twice turned it down.
“According to the people familiar with the debate, Mr. Trump rejected the offer in a contentious meeting that left (U.S. Commerce Secretary Wilbur Ross) licking his wounds. One former official said Mr. Ross looked shocked when he returned to the talks with (China’s vice premier Yang Wang) after being told by Mr. Trump that the deal was a non-starter,” the Financial Times reported.
The Financial Times has the full story here.
