China’s steel export licensing plan shows will to curb trade frictions

China recently announced it would impose an export licensing regime on around 300 steel products starting January 1. The move, while seemingly technical, sends a clear signal Beijing is attempting to address a key source of trade friction with its emerging market partners. To understand the policy’s intent, it needs to be placed in the broader context of China’s trade position this year. As global trade protectionism intensifies, China’s exports have shown remarkable resilience. Even as...