BEIJING (AP) – China’s top economic planner pledged Tuesday to continue cutting steel and coal production, which have been a source of trade friction with many countries.
China reached targets for cuts in production capacity last year, said Xu Shaoshi, chairman of the National Development and Reform Commission, adding that hundreds of thousands of steel and coal workers have been transferred to other jobs. Other industries such as cement and glass are also “actively” cutting capacity, Xu said at a news conference.
China’s trade partners accuse the country of dumping excess steel, coal, cement and glass on world markets. U.S. President-elect Donald Trump has engaged in a war of words with Beijing, accusing China of unfair trade practices and threatening punishing tariffs.
When asked about Trump’s tariff threats and the possibility that Beijing could launch retaliatory antitrust investigations against U.S. companies in China, Xu told reporters it was “normal” to have differences on trade issues and urged the U.S. and China to “control these issues through dialogue on the basis of mutual respect and equality.”
“We all feel that keeping a harmonious U.S.-China relationship is very important for the whole world, and it is something the international community widely expects,” Xu said.