Statement on US 34% Reciprocal Tariffs

On April 2nd, local US time, the US government announced a so - called 34% "reciprocal tariff" on China. The China Chamber of Commerce of Metals, Minerals & Chemicals Importers & Exporters hereby makes a solemn statement, strongly opposing the US's act of unilaterally imposing additional import tariffs again on the pretext of "reciprocity". This practice of the US seriously violates World Trade Organization (WTO) rules, gravely undermines the legitimate rights and interests of WTO members, severely disrupts the rules - based multilateral trading system and the international economic and trade order. It will cause substantial harm to normal economic and trade cooperation between China and the US, and have an adverse impact on US consumers and the global economy.
For a long time, the US has been an important trading partner of China's metals, minerals and chemicals industry. The two sides have a good foundation for economic and trade cooperation, and there is close interaction and communication among the industries. The superimposed tariffs this time will further increase the costs of enterprises, raise the import costs of US importers and the consumption costs of consumers, exacerbate inflation in the US, and increase the likelihood of an economic recession in the US. There are no winners in a trade war. Repeatedly imposing tariffs is harmful to the US economic development and cannot solve the US's own problems.

The Chamber of Commerce of Metals, Minerals & Chemicals firmly supports the Chinese government in taking all necessary economic counter - measures. Here, we strongly call on the US government to immediately cancel the unilateral tariff - imposing measures. The industries of China and the US should strengthen mutually beneficial cooperation, work towards each other, deepen cooperation in the industrial chain and supply chain, and jointly safeguard a healthy and sustainable global trade order.

Facing the current complex and volatile international situation, the Chamber of Commerce of Metals, Minerals & Chemicals appeals to all its members and colleagues in the global metals, minerals and chemicals industry to unite, jointly oppose the US's unilateral trade bullying practices, and jointly address the negative impacts brought about by the trade war. The Chamber of Commerce of Metals, Minerals & Chemicals will do its best to provide high - quality services and support to industry enterprises, and promote the sustained and healthy development of the foreign trade of the metals, minerals and chemicals industry.