Worldwide

Trump to impose steel, aluminum tariffs on EU, Europe ready to retaliate

Trump to impose steel, aluminum tariffs on EU, Europe ready to retaliate”

A Commerce Department investigation earlier this year determined a need to ensure adequate US steel production capacity to supply the military.

U.S. Commerce Secretary Wilbur Ross said during a call with reporters on Thursday that slow progress on the NAFTA renegotiation is another reason why Canada and Mexico will now be subject to the import tariffs.

During a conference call early Thursday, Ross shrugged off questions about the US facing possible retaliation, or whether the move would negatively affect the G7 meeting.

French President Emmanuel Macron, who unsuccessfully lobbied against both Trump's tariffs and USA withdrawal from the Iran nuclear deal during his official state visit to Washington last month, criticized the tariffs in a speech on Wednesday as part of a larger "nationalist retrenchment" reminiscent of Europe in the 1930s.

They include a 25 percent tariff on steel imports and a 10 percent tariff on aluminium imports.

They are expected to lead to retaliation from European nations.

"Today is a bad day for world trade", European Union trade chief Cecila Malmstrom said after Thursday's announcement that the tariffs would finally take effect.

Ross said retaliatory measures by Canada and Mexico won't affect the NAFTA talks.

Former U.S. Ambassador to the U.N. Bill Richardson on the potential fallout from President Trump's steel and aluminum tariffs.

Germany has perhaps the most to lose among European Union nations if the spat escalates into a full-blown trade war.

The decision seems purely political, insofar as the Trump administration failed to secure any meaningful concessions from China during the recent trade spat, and so a "win" elsewhere was likely sought after.

"I think that we've all had just about enough of Donald Trump...."

"That Canada could be considered a national-security threat to the United States is inconceivable", said Trudeau, adding that the people of the USA are not Canada's target, and that the federal government would far prefer that its hand not be forced.

Washington and Beijing are set to resume talks on trade this week, and officials promise the final details will be announced on June 15.

The move follows a breakdown in talks the Trump administration's economic team held with European partners in Paris this week and threatens to potentially roil global markets and trickle down to American companies and consumers if the countries carry through with threats of retaliatory actions.

"Unilateral trade tariffs are always a negative sum game", he said on Twitter. It's now tariffs for everybody, including the United States' closest military allies.

"It's not everyone attacking the other and we see who remains standing at the end", he said, declaring that the stiff taxes would be "unjustified, unjustifiable and dangerous".

Ross criticized the European Union for its tough negotiating position.



Like this

loading...
loading...

Latest


31 May 2018
Will future technology cause us problems?
Oh, and we have robotic combine harvesters, tractors and spreaders that are driven by a computer, working off satellite data. We’re slowly but surely getting to the stage where absolutely everything we do needs to be facilitated digitally.

31 May 2018
Kim Kardashian visits Trump to make clemency plea for drug-trafficking grandmother
"Prison reform is a complex issue that requires expertise and knowledge of where some of the greatest racial disparities lie". Indeed, Trump has called for getting tougher on drug dealers, including suggesting that some should receive the death penalty.

31 May 2018
Federal Bureau of Investigation urging people to reboot routers, due to malware threat
Many experts also recommend that users update to the latest firmware on their router, then perform a factory reset on the device. Of course, you can never be too careful, so let's talk about ways to fix the problem and, hopefully, avoid it going forward.

31 May 2018
Singapore Airlines (re)launches world's longest flight from Singapore to NY
The first A350-900ULR is due for delivery in September, with all seven due for delivery by the end of the year. The Airbus will have a two-class layout, with 67 Business Class seats and 94 Premium Economy Class seats.

31 May 2018
Fact checking the Trump administration on immigration
Children can not go to jail, so they are transferred to the custody of Health and Human Services' Office of Refugee Resettlement. There is obviously a human cost to separating children - especially young children - from their parents.

31 May 2018
Third Tier Club Offers Karius One-Year Deal To Rediscover His Strength
Priority European champion, Alisson would have already reached an agreement with the club Merengue, according to a former Brazilian star of AS Roma , Cafu.

21 May 2018
Represent of the third generation of antibiotics – Suprax Cefixime
Suprax is a Cefixime-based medicine and acts bactericidal, i.e. it kills bacteria, and thus fights against infections. The principle of the Suprax Cefixime action is such that it prevents this process, weakening their functioning.

11 May 2018
How to Do Internet Payments Fast and Safe?
The “secret” of blockchains is that they store data on thousands of computer at the same time and heavily encrypt it. Yes, they are securer than any e-wallet services out there because they completely eliminate the need for “humans”.

08 May 2018
What are the Most Attractive Gambling Destinations Across The Globe?
New research carried out by CasinoBiggestBonus.com have discovered what are the most popular destination between online gamblers. The team have quizzed 2,432 Britons that gamble online asking what is their preferred gambling destinations.

20 February 2018
Best Affordable Car Gadgets
Thanks to the blind spot mirrors that can be easily fixed on your mirror, you won’t have this issue ever again. It’s certainly not a matter of luck anymore, like it would be with no deposit spins in a casino, for example.