US Imposes Additional Tariffs on Chinese Exports to the US; Spot Market Returns to a Sluggish State [SMM Tin Morning Brief]

US Imposes Additional Tariffs on Chinese Imports; Spot Market Returns to Tepid Conditions [SMM Tin Morning Brief] The spokesperson of the Ministry of Commerce commented on the US announcement to impose additional tariffs on Chinese imports citing fentanyl-related issues. On March 3, Eastern Time, the US announced that, starting March 4, it would impose an additional 10% tariff on Chinese imports due to fentanyl-related issues. China expressed strong dissatisfaction and firm opposition, stating it would take countermeasures to resolutely safeguard its rights and interests. China is one of the countries with the strictest and most thoroughly enforced anti-drug policies in the world. The two countries have conducted extensive and in-depth anti-drug cooperation, achieving significant results. However, the US has repeatedly shirked responsibility and made mistakes by using the fentanyl issue as a pretext to impose additional tariffs on Chinese imports. China has repeatedly stated that unilateral US tariffs violate WTO rules, undermine the multilateral trade system, and not only fail to solve its own problems but also harm China-US economic and trade cooperation and disrupt normal international trade order. In the tin ingot spot market, transactions were relatively mediocre yesterday. Most downstream enterprises maintained a wait-and-see attitude, anticipating further declines in tin prices before making purchases or restocking. Some downstream and end-user enterprises had already restocked and placed orders last week during the significant price drop, temporarily meeting short-term demand. This week, they are more inclined to observe market trends. Some traders reported that only a few downstream enterprises placed low-price orders yesterday, but most transactions have yet to be completed.