ibusinesslines.com September 18, 2018

US House Speaker Ryan denounces Trump metals tariffs

12 March 2018, 07:18 | Myron Mathis

Orrin Hatch, the Utah Republican who chairs the Senate Finance Committee and who has enjoyed a close relationship with Trump, called the president's latest move policy "misguided". Trade is now the issue that has driven the most distance between Ryan and the president he reluctantly endorsed during the campaign.

His decision to levy stiff new tariffs on aluminum and steel imports puts him at odds with most of the Republican Party, prominent business groups and even some of his own advisers, who warn that the decision could backfire and slow economic growth in a midterm election year. John McCain, expressed concern that Trump's sharp tariffs will actually hurt the USA economy. The tariffs will take effect in 15 days.

Sen. Johnson said he expects the president's justification of enacting this tariff being a national security measure to be challenged in court like it was in 2002 during the Bush Administration. Sen. The president said US political leaders preceding him had allowed the decline of manufacturing in the nation, and cited a protectionist predecessor, President William McKinley, in defense of the tariffs. This would be an excellent chance for Congress to reassert its constitutionally granted authority in an area that should never have been surrendered to the White House.

President Donald Trump is suggesting that Australia and "other countries" may be exempted from steel and aluminum tariffs, along with Mexico and Canada.

All 435 seats in the House will be on ballots.

Jeff Flake wants to pass a bill to block them. "It'll cost jobs, not to mention, increasing prices for consumers".

Sen. Jeff Flake of Arizona holds those views and he says he is aware that such a campaign "would be a tough go" because the GOP "is the Trump party right now".

Undeterred by the resignation of his senior economics adviser and pleas from more than 100 Republican lawmakers not to go through with the tariffs, Trump signed into law tariffs of 25 percent on steel and 10 percent on aluminum.

President Trump stumped Saturday night for GOP congressional candidate Rick Saccone, who is running in a special election Tuesday. He said he plans legislation that would nullify them.

"Trade wars are not won, they are only lost", he said in a statement.

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