China along with Germany agree to work on steel overcapacity following US tariffs

German Chancellor Angela Merkel along with Chinese President Xi Jinping discussed overcapacity in world steel markets along with agreed on Saturday to work on solutions within the framework of the G20 group of industrialised nations, Merkel’s spokesman said.

In a telephone discussion, the two newly reelected leaders emphasised close ties between the two countries, both facing planned U.S. steel along with aluminium tariffs, along with agreed to deepen their strategic partnership, Steffen Seibert said in a statement.

They also underscored the importance of multilateral cooperation on global trade, a pointed response to an accelerating shift away through multilateral action along with institutions by the United States under President Donald Trump.

Chinese state news agency Xinhua said Xi told Merkel which the two countries should “become advocates for fresh-type international relations” along with become cooperation partners despite their ideological differences, with cooperation to be pushed forward within the framework of the Belt along with Road initiative.

“China-Germany relations will steadily proceed far as long as they adhere to equality along with mutual respect, understand along with care for each various other’s core interests along with major concerns, along with properly control along with handle their differences,” Xinhua said, attributing the comments to Xi.

U.S. officials have said they will seek to work with “like-minded” countries at the Group of 20 finance leaders meeting early next week in Argentina to push back against China’s state subsidies along with investment policies.

The Merkel-Xi call came amid tensions between the United States, Europe along with China over U.S. tariffs, along with China’s rejection of U.S. legislation encouraging an exchange of officials between the United States along with Taiwan. China considers self-ruled along with democratic Taiwan a wayward province ineligible for state-to-state relations.

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