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Beijing proposed cutting steel overcapacity by 150 million
tonnes by 2022 in a deal twice rejected by Trump, who instead
urged advisers to find ways to impose tariffs on imports from
China, the paper said, citing the sources.
(http://on.ft.com/2iCb7Sn)
The deal was endorsed by U.S. Commerce Secretary Wilbur Ross a
week before U.S. and Chinese officials held a high-level
economic dialogue, the FT added, citing a U.S. official and
another person familiar with the matter.
White House spokeswoman Natalie Strom declined to comment on the
"purported internal discussions" between the president and his
cabinet members when contacted by Reuters.
Last week, American steel industry executives appealed to Trump
for immediate import restrictions in a letter seen by Reuters,
saying the industry was suffering the consequences of government
inaction.
Total steel imports through July were up 22 percent from the
same period a year ago, the American Iron and Steel Institute
said in a report.
Pressure over trade between China and the United States seems
likely to grow in future and Beijing should prepare, China's
hawkish Global Times newspaper said on Tuesday.
"China should not overly focus on the Trump administration's
actions," it said in an online editorial. "Instead, it should
begin drafting retaliatory measures against the United States so
as to gain an upper hand."
(Reporting by Ishita Chigilli Palli in Bengaluru, David Lawder
in Washington and John Ruwitch in Shanghai; Editing by Peter
Cooney and Clarence Fernandez)
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