May voices tariff worry to Trump

May voices tariff worry to Trump

Speaking on "Fox and Friends", White House trade adviser Peter Navarro said: "25 percent on steel, and the 10 percent on aluminum, no country exclusions - firm line in the sand".

The EU would "form a coalition of like-minded countries and potentially take the United States to the WTO court together", he said.

The International Monetary Fund also expressed concern about the proposed tariffs and said they likely would damage the US economy as well as the economies of other nations.

French President Emmanuel Macron said Monday the European Union must "react quickly" to USA plans that clearly breached global trade rules.

After announcing plans to impose a 25 per cent tariff on steel imports and 10 per cent on aluminium, Mr Trump boasted via Twitter on Friday that "trade wars are good, and easy to win". "China wins when the American consumer has higher prices because of tariffs that don't affect Chinese behavior". Instead, the USA specialty steel industry is the marvel of the industrialized world. Canada would say, 'National security exemption?

"The US has an $800 Billion Dollar Yearly Trade Deficit because of our "very stupid" trade deals and policies", he said. Conservative groups, including the Club for Growth, a pro-free market organization, have cautioned that tariffs would hurt the economy and Republican chances to hold on to both chambers of Congress in this year's midterm elections. After that, USA administrations imposed protectionist policies, only to see global competitors adapt and the US share of global steel production decline.

However, Navarro indicated he had not seen Trump's tweets on Canada and Mexico being exempted if a NAFTA deal was achieved.

"We're talking about tariffs for all steel and all aluminum imports from everywhere in the world", he continued.

China has been the main target of Mr Trump's rhetoric over the U.S. trade deficit since his presidential campaign, but its steel and aluminium exports to the United States are minimal.

Central Michigan University shooting suspect arrested
Davis allegedly escaped from the dormitory on foot, leading to a campus lockdown and a citywide manhunt for the alleged shooter. Central Michigan University police Chief Bill Yeagley told reporters that the gun used in the shooting belonged Davis Sr.

President Trump's plan for harsh new steel and aluminum tariffs, expected to go into effect later this week, drew fire from Ryan on Monday.

"This leaves the United Kingdom in a very tough spot and I imagine it will be very passive in any back and forth between the U.S. and European Union".

He refuted reports that increase in import tariff on steel would hurt American industries in particular the vehicle manufacturing industry.

The irony is that while Trump has repeatedly tried to target China and its trade policies, the steel tariffs would hit USA allies the hardest, in particular Canada.

It now looks impossible for negotiators to meet their goal of getting an agreement by the end of this month, especially amid the prospect of escalating trade tensions from the steel dispute.

At the NAFTA talks in Mexico City, negotiators agreed on two more topic areas and discussed details of Canada's idea to redraw the way regional content for cars is measured.

As to the idea of retaliation, they may well be some sort of retaliation. "They will lead to the exact opposite outcome of the administration's stated objective, which is to protect American jobs".

On Friday, Trump defended the proposed tariffs, arguing that in certain circumstances, "trade wars are good".

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