Tuesday, 16 October, 2018

Kansas' US senators react harshly to Trump's tariffs

White House confirms President Donald Trump coming to California While you were sleeping: Wall St awaits Trump tariff announcement
Kenny Thornton | 11 March, 2018, 16:55

The danger for Australia has always been not from a direct USA tariff but should retaliation come from Europe and China.

"This is not what I voted for. I'm hearing more and more people say the level of violence on video games is really shaping young people's thoughts".

On Wednesday, Sanders told reporters that the arbitration was won "in the President's favor".

Philip Levy, a former trade adviser in President George W. Bush's administration, said the flaw in Trump basing his tariffs on national security was that military allies could ask to be excluded, undermining the president's stated goal of protecting domestic steel and aluminum mill jobs.

More than 100 congressional Republicans published a letter expressing their dismay.

The Export Import Data Bank maintained by the Department of Commerce reveals that in 2016-17, India traded iron and steel worth Rs.2211 crore with the U.S. This represents only 0.78% of the aggregate trade between the two countries.

They could even go so far as requiring USA stock exchanges to limit who can list in a US market.

Australia is a small global exporter of steel despite being one of the world's largest suppliers of the raw commodity iron ore.

But Lang is one of around 780 workers at the Novolipetsk Steel PAO (NLMK) (NLMK.MM) mill, NLMK's US subsidiary which imports around 2 million tons of steel slabs annually from its Russian parent company.

This shed light on Trump's attacks against Germany - the biggest economy in the European Union - that have accused Berlin of contributing much less than the United States toward the funding of North Atlantic Treaty Organisation.

In remarks at the White House announcing the trade tariff plan, President Trump said "we lose $800bn (£578bn) a year on trade, every year". The service sector accounts for 90 million United States jobs and 80% of USA economic activity, according to the Bureau of Economic Analysis. Mr Trump took to Twitter on Saturday morning to say he'd spoken with the prime minister.

Some fund managers looking overseas after Trump's tariffs announcement
The president hinted that he might bring Cohn back into his administration in the future, but wished him well in the meantime. White House officials told Fox News Cohn's departure date is to be determined, but it's expected to be a few weeks from now.

The president has also invited other countries to try to negotiate their way out of the tariffs, though his administration has yet to explain how the appeals process will work.

Worries about a potential trade war after Cohn said he was resigning on Tuesday initially sent the S&P 500 down almost 1 percent but the three major USA stock indexes closed higher on Thursday after Trump appeared to soften his stance on tariffs.

Foreign steel producers are not only concerned about losing access to the US market but also that steel from other exporters will flood already saturated markets, threatening jobs elsewhere. Since then, manufacturing employment in America has been on the decline. The mill owned by NLMK has existed since the beginning of the 20th century, but experienced two lengthy shutdowns and mass layoffs in the 1990s.

Trump is ordering import tariffs of 25 percent on steel and 10 percent on aluminum later Thursday.

Amid blasts of steam, intense heat, dirt and noise, the mill's 600 union-represented workers earn up to $27 per hour, a solid middle-class wage. European Commission Vice President Jyrki Katainen said it would be "a meeting, not THE meeting".

In recent years, Chinese capital has flooded into Silicon Valley, infusing start-ups with much-needed cash while raising questions about investors' goals and government ties. After joining General Motors in 2010, he helped guide the automaker's recovery from bankruptcy. "Steel is back, and aluminum is back".

The report published by the monitoring agency affiliated to the Ministry of Steel also reveals the industry's growing export capability. This highlights the increasing importance of exports to steel manufacturers in the country. Mercer County had 5.5 percent unemployment in December - above the state rate of 4.8 percent and the national rate of 4.1 percent.

"The U.S.is acting swiftly on intellectual property theft".

Bacon, a member of the House Agriculture Committee, said the US needs to remain in NAFTA. "We kept making the case that Canada wasn't the enemy".

The mood in Farrell is grim and fearful.

This week saw leaders around the world trying to remember whether they were meant to take Donald Trump seriously, but not literally, or literally but not seriously, and also wondering if they have a Greg Norman somewhere they could use.

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