Trump rolling out big trade tariffs, sparing Mexico and Canada


Trump's impromptu announcement last week that he meant to slap 25 percent taxes on steel imports and 10 percent on aluminum revived the specter of a trade war between the United States and major trade allies like Canada, a leading steel supplier.

The metals tariff order that Trump signed at the White House authorises 25 per cent duty on imported steel and a 10-per cent duty on imported aluminum, in order to safeguard national security and to stop the "assault on our country".

The president was surrounded by steel and aluminum workers as he explained his decision at a White House ceremony.

"Due to the unique nature of our relationship with Canada and Mexico, we're negotiating right now NAFTA, we're going to hold off the tariffs on those two countries to see whether or not we're able to make the deal on NAFTA." he said.

Donald Trump exempted Canada and Mexico Wednesday from punishing new tariffs on steel and aluminum into the U.S.

"We're going to be very fair, we're going to be very flexible but we're going to protect the American worker as I said I would do in my campaign", Trump said during a Cabinet meeting. But the president couldn't resist taking a jab at Cohn's strong opposition to Trump's plan to slap tariffs on steel and aluminum imports.

U.S. imports from China of steel and aluminum make up a small proportion of its total imports from the world's second-largest economy, but the tariffs might be the first foray in the brewing USA trade war with Beijing.

He says politicians have for years lamented decline in the industries, but nobody has taken action.

"We will continue to urge the administration to narrow this policy so that it is focused only on those countries and practices that violate trade law", Ryan said. Republicans are concerned the imports could offset the benefits of the tax overhaul they worked too hard to pass past year.

Lawmakers, however, a great deal of whom are Republicans, have publicly opposed Trump's tariff plan. "We urge you to reconsider the idea of broad tariffs to avoid unintended negative consequences to the USA economy and its workers", 107 House Republicans wrote in a letter to Trump.

Trump tweeted a noncommital message on Thursday, writing that he was '[l] ooking forward to [a] 3:30 P.M. meeting today at the White House'. Ron Johnson are both speaking out against tariffs announced by President Donald Trump. "The measures will trigger confusion in the steel market not only in the United States but in Asia", Seko told a news conference.

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.

"A large number of USA manufacturers use imported steel and aluminum to produce items such as appliances, autos and beverage cans", he told Xinhua.

International Monetary Fund Managing Director Christine Lagarde said no one wins in a trade battle and warned the proposed tariffs could have a serious negative economic impact.

The officials said all European Union countries, including Britain which is leaving the European Union, were behind the Commission, which handles trade issues for the 28 governments.

South Korea and Australia both said they would seek exceptions.

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