Japan's steel industry said the proposed United States Department of Commerce to President Donald Trump to restrict steel imports violates the principles of free trade, Reuters reported Monday (19/2). They asked Washington to make a cautious decision.
The US Commerce Department recommended on Friday (16/2) to Trump to restrict imports of steel and aluminum from China and other countries by applying various import tariffs, (19659002) "The recommendations violate the principles of free trade which are the foundation for the development and prosperity of the global economy," said Kosei Shindo, Chairman of the Federation of Iron and Steel Japan, in a statement.  "We believe Trump will make a careful and appropriate consideration," said Shindo, who is also the leader of Japan's largest steel producer, Nippon Steel & Sumitomo Metal Corp.
Yasuji Komiyama, director of the metal industry division of the Ministry of Economy, Perdaga and Industr on Monday refused to respond to the proposed US Department of Commerce. He said there was no final verdict yet.
"But Japan believes imports of steel and aluminum from Japan by Americans do not threaten America's national security," he said.
Japan exports about 2 million steel products of various types each year to America or around 5 percent of total steel exports to the rest of the world, but the country is concerned about American trade policy. [fw]