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ibusinesslines.com June 22, 2018


Trump's Trade Adviser Says No Country Exclusions on Tariffs

06 March 2018, 10:38 | Melissa Porter

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Conservative groups rip Trump’s tariffs

"China doesn't want a trade was with the United States", a spokesman for China's parliament, Zhang Yesui, said on Sunday.

The news came, just a week after the announcement by the US Commerce Department that said the tariff on foreign goods was necessary to safeguard the national security - without spelling it out, of course.

Trump's announcement has sparked a flurry of counter threats from other nations, sparking fears that it will trigger a tit-for-tat trade conflict around the globe.

Trump stoked further fears of worldwide turmoil on Friday by claiming "trade wars are good" and "easy to win".

The president's proposal would slap a 25-percent tariff on steel imports and 10 percent on aluminum.

U.S. President Donald Trump (L) and British Prime Minister Theresa May (R) attend the handover ceremony of the new NATO headquarters during a one-day NATO Summit, in Brussels, Belgium, May 25, 2017.

Canada is the largest exporter of steel and aluminium to the United States, supplying US$7.2 billion of aluminium and US$4.3 billion of steel to the United States past year.

Currently, the US, Canada and Mexico are renegotiating NAFTA.


Scott Walker, a Republican, said Friday that Trump should reconsider the tariffs, noting that the USA doesn't have the capacity to produce the amount of ultra-thin aluminum needed by its own manufacturers.

He acknowledged that other countries might retaliate by imposing tariffs of their own on American goods - as the European Union has threatened to do for blue jeans, motorcycles, and bourbon - but insisted the effects would be small.

Due to the high level of integration of the Canada-US steel industries, he added, "these proposals are going to hurt them every bit as much as they will hurt us".

He said in a release that Trump's proposed tariffs are primarily "blatant intervention to protect U.S. Domestic industry", and "any national security justification appears very weak".

European Commission head Jean-Claude Juncker promised to react firmly.

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.

The tariffs are part of Mr Trump's plan to counter what he says are decades of unfair trade practices and ill-advised trade agreements that have robbed the United States of revenue and jobs.

He dismissed concerns from Defense Department officials who voiced support for targeted tariff increases aimed at specific countries but not increases on the imported metals from throughout the world. European Union officials said they would retaliate with new tariffs on U.S. goods, including Harley-Davidson motorbikes, bourbon whiskey and Levi's jeans.



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