Wednesday, 21 November, 2018

President Donald Trump imposes tariffs on steel, aluminum imports

Dow Jones Warkentin hoping for “carve-out” on steel tariffs
Rita Gibson | 11 March, 2018, 01:15

Donald Trump has fired the starting gun on what could become a world trade war by officially ordering tariffs on USA imports of steel and aluminium.

"It's been an assault", Trump said at the White House where he was joined by steel and aluminum workers holding white hard hats.

At the White House, officials were working to include language in the tariffs that would give Trump the flexibility to approve exemptions for certain countries.

"Our relationship with China has been a very good one, and we look forward to seeing what ideas they come back with".

Trump said the duties were necessary in the name of national security.

China today demanded US President Donald Trump to revoke his decision to impose steep trade tariffs on foreign steel and aluminium, saying it "firmly opposed" the move which will seriously undermine global trade order.

"Once again, President Trump is keeping his promises and standing up for American families, American businesses, and American workers", Ross said.

Trump today imposed heavy tariffs on imported steel and aluminium which he said were necessary to boost the USA industry suffering from "unfair" business practices, a move that has sparked fears of a global trade war.

Outgoing White House chief economic adviser Gary Cohn listens as President Donald Trump speaks during a cabinet meeting at the White House, Thursday, March 8, 2018, in Washington.

Rabada faces suspension after Smith incident
Cummins also edged behind and Starc was clean bowled, with Rabada aiming a comment at the Australian as he went on his way. Two more wickets fell quickly after the interval, including that of Warner for 63, made off 100 balls with nine fours.

The EU has warned that it stands ready to slap "rebalancing" tariffs on about 2.8 billion euros ($3.4 billion) worth of USA steel, agricultural and other products, like peanut butter, cranberries and orange juice.

He said other countries could be spared if they can convince the administration that their steel and aluminum exports don't threaten American industry. "The President is once again demonstrating he will protect our country, fight for American workers and strictly enforce our trade laws".

The tariffs, which take effect in 15 days, initially will not apply to imports from Canada and Mexico so that US officials can assess progress toward a new North American Free Trade deal, according to a senior administration official. Other countries have added production capacity that far exceeds demand.

President Donald Trump holds up a proclamation on aluminum during an event.

However, he added: "We have to protect & build our Steel and Aluminum Industries while at the same time showing great flexibility and cooperation toward those that are real. and treat us fairly on both trade and the military". Earlier this week she warned the USA tariffs could jeopardise thousands of European jobs.

Administration officials said the tariffs would apply to every country in the world except Canada and Mexico, two key US allies.

The top European Union trade official Cecilia Malmstroem insisted the entire bloc "should be excluded" from the tariffs as a "close ally", vowing to "seek more clarity" from Washington. Mexico, which is the fourth largest aluminum exporter to the US, is also expected to lobby strongly for a long-lasting exclusion.

Gareth Stace, the director of industry group UK Steel, said the tariffs "would have a profound and detrimental impact" on the UK steel sector.

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