Trump has long sought a more balanced trade relationship with China and has threatened to impose a big “fine” against China to protect US intellectual property. The US official said Trump has discussed imposing a global tariff on imports of steel from China and other nations. The prospect of a global tariff sent steel shares rising after hours with US Steel Corp and AK Steel Holding Corp up more than 3 percent. A blanket tariff on steel would cover every steel and aluminum product entering the US market from China, the world’s largest steel producer. China produces a total of 800 million tonnes of steel each year, equal to about half of global output.

Source: Taipei Times February 24, 2018 15:56 UTC