Ryan, Johnson speak out against Trump tariffs

Ryan, Johnson speak out against Trump tariffs”

Republican Sen. Jeff Flake wasted no time responding to President Donald Trump's new tariffs on steel and aluminum on Thursday, rolling out a bill to reverse the decision. Canada and Mexico are exempted amid larger trade negotiations, Trump said. The talks are expected to resume early next month.

ArcelorMittal, the world's biggest steelmaker, said while governments were right to take a tough approach to unfair trade, the only way to create a sustainable industry was for "steel-producing nations to work together to address global overcapacity". It's really an assault on our country.

Prospects in the House for a bill to counter Trump are dim as well.

Surrounded by steel and aluminum workers holding hard hats, Trump cast his action as necessary to protect industries "ravaged by aggressive foreign trade practices".

Wisconsin's three highest-ranking Republicans - House Speaker Paul Ryan, U.S. Sen.

Though the moves resonated with a chunk of Trump's base, they've caused conflict both within the administration and the Republican Party, which saw 107 of its House members sign a letter in opposition. It went away. If you don't make stuff, you can't have a strong country. Tammy Baldwin, had a more measured response.

The U.S. president has blamed subsidised or unfairly traded industrial goods from China for decimating U.S. industries such as steel and coal and he ran for election on a ticket of restoring blue collar jobs. The president said he would exempt Canada and Mexico as "a special case" while negotiating for changes to the North American Free Trade Agreement.

President Trump arrives to speak at a campaign rally
President Trump arrives to speak at a campaign rally

Walker on Thursday repeated his call for Trump to reconsider, saying "these tariffs will negatively impact key industries and employers in Wisconsin".

Many Republicans fear Trump's decision will spark a trade war and damage the US economy just eight months before the 2018 elections. Trade wars are not won, they are only lost. "There may be people who lose less".

But GOP senators acknowledged in the hours ahead of Trump's announcement that they were largely in the dark about what the president was planning.

Still, the United States already has 29 duties in place against Chinese steel products. Ryan says he hopes Trump will continue to narrow the policy to focus only on countries that violate trade law.

"Our economy and our national security are strengthened by fostering free trade with our allies and promoting the rule of law", he said. He says he expects the action to be challenged in court.

For Asian steelmakers, Moody's said the tariffs "would be manageable because exports to the US account for relatively small portions of their total steel production". "Simply put: This is a tax hike on American manufacturers, workers and consumers", Hatch said. The former real estate developer said politicians had for years lamented the decline in the industries, but nobody was willing to take action.

His move, an assertive step for his "America First" agenda, has rattled allies across the globe and raised questions at home about whether protectionism will impede USA economic growth. "We should probably start taking some of that back".

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