Fitch's comments on tariff from the United States

Fitch Ratings' comments on the new tariff that the United States wants to impose on steel imports are as follows:

• The proposed tariff will have a limited impact on China's steel producers.
• China's steel market is expected to remain stable in 2018.
• Most of China's steel exports go to regional markets and not to the United States.
• China's steel exports to the United States accounted for only 1% of total steel exports in 2017.