China opposes protectionism and supports the settlement of trade disputes through negotiation, but will "resolutely safeguard" its legitimate rights and interest, Premier Li Keqiang said in a government work report on Monday, according to Reuters. President Donald Trump announced last Thursday he would impose hefty tariffs on imported steel and aluminum to protect U.S. producers, risking retaliation from major trade partners like China, Europe and neighboring Canada while sending global financial markets lower.
