Last month, U.S. President Donald Trump slapped tariffs of 25% on steel imports and 10% on imported aluminum, but granted allies a temporary exemption until yesterday, May 1, 2018.

The tariffs are part of a push to tighten access to the U.S. market for politically sensitive imports. President Trump also said they were intended to bring countries to the negotiating table to address what he sees as unfair imbalances in trade.

China is committed to further opening its economy and allowing foreign and domestic firms to compete on equal footing. Chinese Premier Li Keqiang recently spoke on the topic, saying, “If there is one thing that is going to be different from the past, it will be that China will open even wider. [ . . . ] China's economy has been so integrated with the world economy that closing the door to it would mean blocking our path to development.”