ibusinesslines.com March 18, 2018

US House Speaker Ryan denounces Trump metals tariffs

12 March 2018, 07:18 | Myron Mathis

Paul Ryan

Paul Ryan

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.

Other News

Trending Now

Tour helicopter crashes into East River
The Federal Aviation Authority said a Eurocopter AS350 hit the water near Roosevelt Island at 19:00 local time (23:00 GMT). A helicopter crashed in New York City's East River on Sunday evening, killing at least two people, authorities say.

Luke Bryan Leaned on Blake Shelton for Television Judge Advice
And, in case you're wondering, they're going to be handling audition clips different when American Idol returns . Which is why he and the other judges often made those contestants sing an already existing hit.

Bagley's big second half helps Duke advance to ACC tournament semifinals
After the Tigers strung together their momentum-shifting run, the Eagles went almost five minutes without sinking a single shot. The freshman phenom and ACC Player of the Year came within one point of his career high set against Texas in late November.

American customers stockpile Canada steel as tariffs loom
That could unleash a protectionist free-for-all, damaging to the global economy - something the WTO was created to prevent. Likewise, Trump's invitation to countries to plead their case for being exempted from the tariffs might prove a tough sell.

Elon Musk Releases New Video of "Starman" and Falcon Heavy Launch
Falcon Heavy is able to send object on the Earth orbit at prices by 66% lower than its #1 competitor, the Delta IV Heavy. Following liftoff, the two side boosters separated from the center core and returned to landing site for future reuse .

Trump accepts invitation to meet with North Korean leader Kim Jong Un
Signs of a thaw emerged this year, with North and South Korea resuming talks and North Korea attending the Winter Olympics. Earlier this week, President Donald Trump said the United Nations sanctions have been "very, very strong and very biting".

WWE has some massive plans for AJ Styles after WrestleMania 34
Always expect the unexpected - and, don't forget, Carmella and her Money In The Bank briefcase remain in the shadows... With those factors in mind, we assessed the five key talking points ahead of Sunday night.