HONG KONG -- U.S. President Donald Trump's new blanket tariffs on steel and aluminum are aimed at the rest of the world, not only America's superpower rival, China. But while the impact on Chinese metal industries may appear limited at first glance, the latest White House move risks exacerbating pressures within the world's No. 2 economy and sparking a global chain reaction of protectionism, analysts say.
China shipped $2.5 billion worth of steel and aluminum products to the U.S. in 2024, accounting for a mere 0.5% of its total exports and 0.01% of its gross domestic product, according to Capital Economics.
