China will not dump its goods in other countries despite trade tensions with the U.S., writes Beijing's Ambassador to India, Xu Feihong, addressing concerns about an influx of cheap Chinese products.
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00:00China will not dump its goods in other countries despite its trade and tariff tensions with the US.
00:07Beijing's ambassador to India, Sufe Hong, writes this as he addresses concerns about potential influx of cheap Chinese products flooding other markets.
00:17The trade war between China and US has raised concerns that Chinese firms may divert goods to other markets, hitting competitiveness of exports from other countries.
00:30Since US President Donald Trump took office, China and the US have imposed tariffs over 100% on each other's goods, rattling global markets.
00:39Last week, India, the worst second-largest producer of crude steel, imposed a 12% safeguard duty on some steel imports to curb a surge of cheap shipments, primarily from China.
00:51This influx of Chinese steel has forced some Indian mills to reduce operations and consider job cuts.
00:57India is among several countries taking steps to protect local industries.
01:02After a 2020 border clash source relations, India restricted Chinese investments.
01:07However, both nations are working to rebuild ties with Chinese President Xi Jinping,
01:12urging closer cooperation with Indian President Drupadi Murmu this month
01:16as they exchange congratulatory messages celebrating the 75th anniversary of their diplomatic relations.