July 24, 2018 / 5:19 AM / a year ago

Japan steel federation head: biggest fear is jump in China steel exports

TOKYO, July 24 (Reuters) - The Japanese steel industry’s biggest concern is rising exports from China, the world’s biggest producer, because reduced local demand due to the trade spat between the United States and China may lead to more overseas shipments, said the head of the Japan Iron and Steel Federation.

“Our biggest worry is a scenario that the U.S.-China trade wars would dent China’s local demand, leading to a surge in China’s steel export,” Federation Chairman Koji Kakigi told a news conference on Tuesday.

U.S. President Donald Trump on Friday said he was ready to impose tariffs on all $500 billion of imported goods from China, threatening to escalate a clash over trade policy that has unnerved financial markets.

Reporting by Yuka Obayashi; Editing by Christian Schmollinger

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