Congress members from Colorado 'disappointed' with Trump's tariffs

12 March, 2018, 05:03 | Author: Dustin Murphy
  • Turnbull making personal push on steel

The European Commission is considering a preliminary list of punitive tariff on U.S. products in response to Trump's adoption of protectionist tariffs under the pretext of preserving his country's national security.

Some, including the European Union, have threatened retaliatory tariffs on U.S. products such as bourbon whiskey and Harley-Davidson motorcycles.

It is not too much to say that no other country would suffer more from US tariffs than South Korea, which is too dependent on exports for economic growth.

Area steel producers declined to discuss President Donald Trump's steel and aluminum tariffs announced Thursday, but many steel workers said they believe the tariffs would bring back jobs.

The EU's top trade official said the USA failed to provide full clarity on how Europe and Japan could be spared set to continue next week.

Zeybekci warned that there is "a danger of a trade war", citing statements from Japan, China, the European Union and Canada.

"These tariffs aim to reverse this sorry state of affairs".

Another sometimes-critic of the president, Rep. Mike Coffman, R-Aurora, said Trump should have first filed a complaint against unfair trading practices with the World Trade Organization, before throwing such a haymaker.

Coming on the same day that 11 U.S. allies - but not the United States - sign a landmark Asia-Pacific trade agreement, the move on tariffs only underscores Trump's embrace of the protectionist policies he believes helped him win the presidency.

"It's really an assault on our country", he blasted, announcing the tariffs on the metals used in everything from cars to construction, roads to railways. Only Canada and Mexico - both partners in the North American Free Trade Agreement being renegotiated - were excluded from the tariffs.

The government will push for an exemption to newly-announced U.S. tariffs on steel and aluminium, the Finance Minister says.

The threat of tariffs hung over the negotiations in Mexico City, and Lighthizer said it was an incentive for Canada and Mexico to get a deal - a sentiment echoed by Commerce Secretary Wilbur Ross after Trump's announcement.

"We need a dialogue with the United States". Canada and Mexico, which have been granted exemptions, contribute about 25% of the total between them.

Trump suggested before he signed the orders imposing the tariffs that Australia and "other countries" could also be exempted. China, Germany, Brazil, etc. specifically make steel to export - not for their own use.

The Trump administration's rollout of new tariffs on steel and aluminum imports has left countries confused about whether they can win exemptions, but Australia seems to have accomplished it with a phone call from the country's prime minister to President Trump.

They wrote that adding taxes in the form of tariffs would undermine the economic momentum of the recently passed GOP tax plan. "China would have to make a justified and necessary response", he said.

Britain blasted the tariffs as "not the right way" to tackle the problem of global overcapacity in steel.

Trump said he was merely fulfilling a campaign promise, saying he had been talking about perceived trade injustices "a long time, a lot longer than my political career".

With the mid-term congressional election in November, Mr Trump's move could give a boost to Republicans.

"But I have to work on trade deals". The announcement set off a wave of uncertainty in markets, with stocks declining Wednesday as traders absorbed the developments.



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