No steel tariff exemption for European Union granted yet

The new tariffs imposed by the U. White House trade adviser Peter Navarro said that other countries who also sign a new North American Free Trade Agreement could also receive a similar exemption.

CHINA today denounced United States tariffs on aluminium and steel imports, saying that they would profoundly harm the global trade environment.

Several major trading partners have said they will respond to the tariffs with direct action.

Farm groups have long feared that China, which imports more than third of all US soybeans, could slow their purchases of agricultural products, heaping more pain on the struggling USA farm sector.

‘It’s hard to believe that, at least for a percentage of children, maybe it’s a small percentage, that this doesn’t have a negative impact on their thought process, ‘ Trump said in his meetings with lawmakers. The Canadian dollar and Mexican peso gained against the US dollar.

The EU shares American concerns about overcapacity in the global steel sector, Malmstroem said, but warned “this is not the right way to deal with it”.

“The misuse of the “national security exception” clause by the U”.

The two also met with Japan’s Minister of Economy, Trade and Industry of Japan Hiroshige Seko, and all three pledged in a statement afterward to work together to fight dumping that hurts jobs and industries around the world.

The White House said Wednesday that Mexico, Canada and other countries may be spared from tariffs under national security “carve-outs”.

If renegotiations are completed, “there won’t be any tariffs” on the two US neighbours, Trump said.

“As a close security and trade partner of the USA, the European Union must be excluded from the announced measures”, she tweeted after bilateral and trilateral meetings.

Malmström will meet U.S. Trade Representative Robert Lighthizer in Brussels on Saturday to discuss an exemption. If not, the European Union has threatened retaliatory tariffs on US products like peanut butter and orange juice.

“We will stand firmly by the side of our companies and their workers and will now work closely with the European Commission to answer coolly and clearly” Trump’s imposition of 10 percent tariffs on aluminium imports and 25 percent on steel, she added.

He suggested foreign producers could move their manufacturing into the United States to avoid the tariffs.

Mexico, the third biggest trading partner with the U.S., was also exempted from Trump’s steel and aluminum tariffs.

“I don’t think there are easy answers and I don’t think that we’re going to be able to figure out the solution in the course of a one-hour conversation”, Henson said, according to the AP.

Japanese Foreign Minister Taro Kono said the tariffs “could make a significant impact on the economic and cooperative relationship between Japan and the US, who are allies”. We have allies and we are making a strong case for our partnership.

Home News GOP Breaks with Trump on Trade       Source CBS          News      GOP Breaks with Trump on Trade                 By David Schmidt