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Thread: Trump Likely to Impose Stiff Steel, Aluminum Tariffs

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  1. #1
    Senior Member Judy's Avatar
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    Trump Likely to Impose Stiff Steel, Aluminum Tariffs

    Trump Likely to Impose Stiff Steel, Aluminum Tariffs

    By Jennifer Jacobs
    February 28, 2018, 11:37 PM EST

    President to announce decision on Thursday, people say
    Tariffs could antagonize China and hurt relations with allies

    President Donald Trump is set to announce steep tariffs on steel and aluminum imports Thursday, people familiar with the matter said, in what would be one of his toughest actions yet to implement a hawkish trade agenda that risks antagonizing friends and foes alike.

    Trump told aides he wants to announce tariffs of 25 percent on steel and 10 percent on aluminum from all countries, according to two people who asked not to be identified because the deliberations aren’t public. One person said the details of the decision may still change, and it’s possible some countries may be granted exemptions.

    Trump has been considering a range of options to curb imports of steel and aluminum, after the Commerce Department concluded shipments of the two metals hurt U.S. national security. Leading up to the decision, the president told confidantes he was leaning toward a 24 percent tariff on steel, the harshest of the alternatives given to him by Commerce.

    The U.S. move may provoke retaliation from China, the world’s biggest steel and aluminum producer. China has already launched a probe into U.S. imports of sorghum, and is studying whether to restrict shipments of U.S. soybeans -- targets that could hurt Trump’s support in some politically important farming states. While China accounts for just a fraction of U.S. imports of the metals, it’s accused of flooding the global market and dragging down prices.

    Canada, Mexico

    The decision may also harm relations with key allies including Canada and Mexico, which are already locked in discussions over U.S. demands to change the North American Free Trade Agreement. Canada is the biggest foreign supplier of U.S. steel.

    The European Union has suggested such an action by the U.S. would face a legal challenge at the World Trade Organization. At home, consumers could see price hikes for everything from cars to beer cans that would be triggered by tariffs.

    Defense Secretary James Mattis had lobbied the president for targeted options on steel, warning that sweeping measures could undermine U.S. relations with its allies. European officials have argued that it doesn’t make sense to penalize members of the Nato defense alliance in the name of security.
    Republican Pressure

    Trump was under pressure from lawmakers in his Republican party to soften the blow on foreign steel. Businesses from beverage firms to automakers have warned a crackdown could raise prices in their industries and cost jobs. However, U.S. steel producers and workers have called on Trump to defend their industry as it grapples with the effects of overcapacity in China.

    The decision may play well in Rust Belt states such as Pennsylvania and Ohio that Trump won after promising a tougher approach to trade.

    The announcement will end months of uncertainty over the steel and aluminum market. Last April, the president ordered Commerce to study the impact of steel and aluminum imports on national security under seldom-used section 232 of the 1962 Trade Expansion Act. The department submitted its final reports to the president in January.

    https://www.bloomberg.com/news/artic...uminum-tariffs
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  2. #2
    Super Moderator Newmexican's Avatar
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    Moved to Other Topics. Not immigration related.
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    Senior Member Judy's Avatar
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    Thank you, Newmexican, I forgot trade wasn't one of our issues.
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    Super Moderator Newmexican's Avatar
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    Trump talked about China's dumping of steel and currency manipulation during his campaign.

    As the situation with North Korea heated up, Trump did not push this particular campaign promise to the disappointment of many. Now that it is apparent that China has not been an honest broker in helping stop N Korea nuclear missile program, I am not surprised to see the tariffs previously promised, imposed.

    To see the MSM going "nuts" over a "trade war!!!!" now is, in my opinion, disingenuous

    North Korea THREAT: Trump needs to be TOUGHER with China to defeat Kim Jong-un

    NORTH KOREA has to be stopped with the help of China or the rogue state’s threat will become much greater in 2018, according to former US undersecretary of State Nicholas Burns.

    By ALESSANDRA SCOTTO DI SANTOLO
    PUBLISHED: 09:27, Fri, Dec 29, 2017

    Ex-ambassador: China should do more to stop North Korea



    North Korea’s threat is too great for China to fail to comply with UN trading sanctions and Donald Trump needs to be tougher with Xi Jinping in order to defeat Kim Jong-Un.

    Former US NATO Ambassador Nicholas Burns told CNBC News that Donald Trump needs to ask more of China in 2018.

    Mr Burns said: “Some people think 2018 is going to be a year of decisions where the administration might choose to use military force to try to deal with North Korea nuclear problem.
    GETTY
    North Korea's threat can only be diminished if Donald Trump is tougher on China

    Keep the Chinese focused on what they said they’re going to do and have them do it

    Nicholas Burns
    “I think that’s a possibility, but I think the greater probability is that we’ll see a continuation of the sanctions effort. More pressure by President Trump on Xi Jinping for China to do more to restrict Chinese trade with North Korea.

    “And I think the administration is still looking for an opening towards negotiations because the risks of a war are so great of developing an even greater war in the Korean peninsula, I think the administration will be very sensitive about that.”

    China denied breaking any UN sanction by selling oil to North Korea but considering its past failure to conform with UN sanctions, it would be fair for the US to question China's compliance, said Mr Burns.

    Bolton: Zero chance North Korea will give up nuclear weapons- VIDEO AT LINK

    Mr Burns added: “That’s what the Trump administration has to do, and for the President particularly with Xi Jinping, keep the Chinese focused on what they said they’re going to do and have them do it.

    “But also, ask the Chinese to do more because it’s not in the interest of China to see this terrible problem of the North Korean peninsula heat up.”

    In an article for the New York Times, US Secretary of State Rex Tillerson hinted that the Trump administration might be more aggressive against China in general and intellectual property rights and other trade disputes.

    Mr Trump's administration held off in 2017 to pressure China on trade because they needed Xi Jinping’s help with North Korea.

    “That may change in the next few months, so that bears watching as well”, said Mr Burns.

    He added: “It’s going to be one of the most important early determinants in January and February, where the administration is going. We are seeing a lot more talk from the administration about the need to get tough with China.”

    https://www.express.co.uk/news/world...na-World-War-3
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  6. #6
    Senior Member Judy's Avatar
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    This should come as no surprise to anyone over there, but should be a delight to all Americans here. If the EU wants to put tariffs on our Levi Jeans, bourbon and Harley-Davidsons, that's okay. We don't care. We'll stop buying those stupid imported jeans, buy our own Levis, drink more bourbon and save up for a Harley. We don't need you, EU. Get it? We're tired of doing so much for Europe for so long and you never doing anything for the United States except insulting US.
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