Monday, 19 November, 2018

President Trump to meet with aluminum, steel execs

U.S. Commerce Secretary Wilbur Ross poses before a roundtable briefing in Hong Kong in September Anthony Wallace AFP Getty ImagesU.S. Commerce Secretary Wilbur Ross poses before a roundtable briefing in Hong Kong in September
Stacy Diaz | 12 March, 2018, 07:19

"These so-called "flexible tariffs" are a marriage of two lethal poisons to economic growth - protectionism and uncertainty", Flake said in a statement.

Capito said steel and aluminum industries need protection from worldwide competition because of declining production in the United States, adding it is important for the president to consider the effects of such trade policies going forward.

When asked about President Trump's tariff plan, Ryan said he believes the most effective way to address unfair trade is targeting specific practices.

The Arizona pol says he's quitting because he couldn't win while sticking by his anti-Trump views, and has drawn speculation he may be interested in the presidency himself.

The chief executive imposed the new levies last week in an effort to protect American industries and jobs, and to promote fairer trade on the global markets.

Otherwise, they argue that Trump's suggested tariffs of 25 percent on imported steel and 10 percent on aluminum would do broad damage across the USA economy just as the tax-cut law is kicking in to boost growth.

Republicans do not like these tariffs. Exports account for more than half of the local economy in Columbus, Indiana, and 25 percent of Fond du Lac, Wisconsin's economy. Ron Johnson (R-WI) has also condemned the looming trade war.

So, while the tariffs could be good for certain companies and industries, they could still be damaging to our economy as a whole.

Even before entering politics, Trump the businessman and real estate developer railed against what he viewed as unfair trade practices that left the USA economy and American workers vulnerable.

Notably, no Republican lawmakers attended the White House event.

Trump's decision to impose these tariffs - if, indeed, he actually goes through with it - would seem to mark the first real example of his populist rhetoric being turned into policy that directly contravenes Republican orthodoxy. She also shared similar fears the other Wisconsin Congressional members expressed.

Flake is now drafting legislation that would nullify the tariffs, worrying they will disrupt the economy.

Economic analysts warn that a trade dispute sparked by the tariffs could damage communities that backed the president in 2016.