Wednesday, 23 May, 2018

Trump imposes tariffs on steel and aluminium imports

US Allies Jostle to Win Exemptions From Trump Tariffs No Deal for EU Seeking Exemptions From Trump's Steel, Aluminum Tariffs
| 11 March, 2018, 03:01

He has tried to use the tariffs as leverage in ongoing talks to revise the North American Free Trade Agreement, suggesting Canada and Mexico might be exempted from tariffs if they offer more favourable terms under NAFTA.

Administration officials said the tariffs would apply to every country in the world except Canada and Mexico, two key US allies. It's really an assault on our country.

But Trump also said that Cohn was a "nationalist" in his own way because "he loves our country". He was joined by steel and aluminum workers holding white hard hats.

Trump said the tariff's would "defend America's national security".

Nevertheless, during his announcement yesterday, Trump repeated his threat to pull out of the 24-year-old trade agreement if it can not be reworked to his liking.

"The short answer is, we don't know the specifics yet", said Orr, who was assistant USA trade representative in President George H.W. Bush's administration.

Officials would look into the extent of the tariffs and how New Zealand might secure an exemption, Mr Robertson said.

It further includes the flexibility for the Trump administration to add or remove countries from the list of those subject to the levy.

Arkansas' senior U.S. Sen.

Mr Trump has complained about low-priced Chinese exports of steel and aluminium, but the latest move was likely to hit Japan and South Korea harder.

Trump's sudden push for the tariffs last week triggered fears of a global trade war and rattled financial markets.

"Europe is certainly not a threat to American internal security, so we expect to be excluded", Ms Malmstrom, the trade commissioner, told reporters in Brussels on Friday.


European Commission Vice-President Jyrki Katainen said: "We all have to choose whether we want rules-based trade - which supports rules-based world order - or do we want rule of force, or the rule of the strongest, which we have now seen?" "We just want fairness".

Oddly, the primary victims of these tariffs, which are being imposed under a law that lets the president restrict trade to protect national security, will be American allies like the European Union and South Korea.

That scenario, Tom Donohue said, would endanger the economic momentum from the GOP tax cuts and Mr Trump's rollback of regulations.

"We urge the administration to take this risk seriously", Donohue said.

"If we reach a deal it is most likely that we won't be charging those two countries the tariffs", he said, adding that Australia would also be spared.

Trump said the "reciprocal tax" programme would ensure "fair trade deals" for the US.

For now, Trump agreed to exempt, Canada and Mexico and held out the possibility of later excluding allies like Australia.

Trump has been frustrated by the delay, the officials say.

Others, including the Republican House Speaker Paul Ryan, R-Wis., disagree with that. "These tariffs will raise prices on so many products that Americans buy every day".

Do what he likes and Canada - the biggest foreign supplier of steel and aluminum to the USA - goes tariff-free.

Arizona Sen. Jeff Flake, a Republican, said he plans to introduce legislation next week to nullify the tariffs though he has acknowledged that finding the votes to stop the president's actions could be hard.

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