White House revives steel and aluminium tariffs against EU

01 June, 2018, 06:58 | Author: Franklin Nunez
  • US to slap tariffs on steel, aluminium from EU on Thursday

"Mexico deeply regrets and condemns the decision of the United States to impose these tariffs on steel and aluminum imports. under the criterion of national security", the government said.

The tariffs will impact directly on Port Talbot as around 10% of Tata Steel Europe's exports go to the US. In response to that investigation Mr. Trump announced global tariffs.

Meanwhile, the commerce secretary said he plans to go to China for trade talks on Friday, another country with which the USA has developed an extremely tense relationship over trade differences under the Trump administration.

The EU will now take action against the United States at the World Trade Organisation, while imposing duties on American imports expected to include orange juice, peanut butter and other goods.

"We talked about how hard this was going to be in terms of a turning point in the Canada-U.S. relationship", Trudeau noted.

"If President Trump decides to treat Europe as an enemy, we will have no choice but to defend European industry, European jobs, European interests", he said.

Mexico has also responded, promising to slap tariffs on us products including pork bellies, grapes, apples, and flat steel.

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Trudeau responded that there was no way any Canadian prime minister would sign a NAFTA deal that included a five-year sunset clause, and the visit was scrapped.

Trump had been widely expected to impose tariffs on European steel and aluminum imports after failing to win concessions from the European Union.

The administration first announced the tariffs back in early March, portraying them as an aggressive effort to fight the perfidious behavior of China and other countries to subsidize their domestic metals industries, undermining American national security.

The European Commission, which coordinates trade policy for the 28 EU members, has said the bloc should be permanently exempted from the tariffs since it was not the cause of overcapacity in steel and aluminium.

The President of the European Commission, Jean-Claude Juncker, said "The EU believes these unilateral U.S. tariffs are unjustified and at odds with World Trade Organization rules".

While not confirming directly that the U.S. would decide to impose tariffs, he said: "It's up to the European Union to decide if it wants to take retaliatory measures".

International Trade Secretary Liam Fox dismissed American claims the move was due to national security as he signalled the United Kingdom could take retaliatory measures.

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The EU has already said it will respond by imposing tariffs on USA products such as motorcycles and jeans. European officials argue that tit-for-tat tariffs will hurt growth on both sides of the Atlantic.

"Today is a bad day for world trade", she said.

NAFTA negotiations are "taking longer than we had hoped". And it won't be on U.S. steel and aluminum - it will be on Harley Davidson motorcycles, California almonds, Levis and Jack Daniels.

Even some Trump allies in Congress said the trade moves were misguided.

The EU said it would take action through the World Trade Organisation, setting in motion a process aimed at settling the dispute over the penalties.

"If any of these parties does retaliate that does not mean there can not be continuing negotiations", Ross said. "Europe, Canada, and Mexico are not China, and you don't treat allies the same way you treat opponents". He offered little detail about what the EU, Canada and Mexico could do to have the tariffs lifted. For Tata Steel Europe, the USA accounts for 10% of its sales.

The US Aluminum Association, which represents major producers, also criticised the US decision on Thursday, saying tariffs would alienate allies and fail to address oversupply.

"Our other expectation is that the government of Canada will take immediate action to ensure that there is no diversion of steel from other countries".

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A list of countermeasures would include tariffs on US metals and food products such as yogurt, pizza and cucumbers, as well as household products like mattresses and refrigerators.

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