Shandong's Environmental Protection Bureau said it would cut pig iron production capacity by 600,000 tonnes and crude steel by 3.55 million tonnes by the end of this year.
Trump has reportedly rejected a plan to levy tariffs of 10 percent on an additional $200 billion of imports from China and ordered aides to prepare a proposal for tariffs at the higher rate of 25 percent.
China vowed on Thursday to retaliate if the United States acted on a threat to raise tariffs on the Asian nation's exports, fueling fears in financial markets that the trade war between the world's two biggest economies would escalate.
Barrick Gold Corp will make a bigger push to attract institutional investors in China under a new deeper-ties pact with Shandong Gold, aimed at bolstering its shareholder base, executives told Reuters.
A surplus of cobalt chemicals used to make the rechargeable batteries that power electric vehicles has seen Chinese refiners switch to producing metal, sending prices down 30 percent in recent months.