Wednesday, 20 February, 2019

White House Trade Adviser: No Country Exemptions for New Tariffs

Not Released White House Trade Adviser: No Country Exemptions for New Tariffs
Melissa Porter | 06 March, 2018, 22:38

Trade tensions between the world's two largest economies have risen since Trump took office in 2017, and although China only accounts for a small fraction of USA steel imports, its massive industry expansion has helped produce a global glut of steel that has driven down prices. They laugh at what fools our leaders have been.

The president is unfazed by criticism that he is launching the US into a trade war saying Friday that sometimes trade wars are a good thing.

Gabriel said that a confrontation between the EU and the USA over trade affairs would be in the interests of neither the Europeans nor the Americans.

The exact timing was still unclear as the tariff documentation had to be drafted and go through a variety of reviews, a process that takes days, an administration official said.

A spokesperson for 10 Downing Street said the United Kingdom is "engaging" with the USA on what Mr Trump's tariff announcement means in practice.

That has included the threat that Washington will withdraw from the North American Free Trade Agreement if it is not satisfactorily renegotiated, and his unexpected, market-rattling announcement of plans for hefty tariffs on steel and aluminum imports.

"We've seen. over the last 48 hours commentary from Canada, from the European Union".

Wilbur Ross today on the new tariffs President Trump announced on steel and aluminum.

"But just to turn around one day and say, well, for this national security reason - which the Department of Defense doesn't even agree to - doesn't make much sense", Kasich said. "But if the USA takes actions that hurt Chinese interests, China will not sit idly by".

"Big trade imbalance!" Trump tweeted on Saturday.

This has been done in line with the Trump's decision to protect the United States workers from the upheaval of the global trade.

The Business Roundtable's Josh Bolten, a chief of staff for President George W. Bush, tells "Fox News Sunday" that "every modern president has faced some trade skirmishes during their time but they've all been wise enough not to let it descend into outright trade war". "The EU will react firmly and commensurately to defend our interests", he said.

The Mexican and Canadian ministers are likely to press Trump's trade envoy for more details on how their countries could be excluded from the blanket tariffs.

"We will not sit idly while our industry is hit with unfair measures that put thousands of European jobs at risk", he said.

He told the BBC's Sunday Politics programme "trade wars don't do anybody any good".