Trade war: This file photo shows a converter process of Nippon Steel’s Kimitsu iron mill plant at Kimitsu city in Chiba prefecture, suburban Tokyo. There’s a risk of a global trade war should President Donald Trump decide to restrict imports of steel, according to Japan’s leading mills group. — AFP
TOKYO: There’s a risk of a global trade war should President Donald Trump decide to restrict imports of steel, according to Japan’s leading mills group, which warns any new US curbs on the metal may provoke a tit-for-tat response that could drag in other products.
Concern would deepen about the potential spread of protectionism if Trump acts, Kosei Shindo, chairman of the Japan Iron and Steel Federation, told reporters in Tokyo. A trade fight beyond steel could happen if countries retaliated in other areas, such as farm products, Shindo said.
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