Global News

Trump seeking to slap steep tariff on Chinese imports says report

Trump seeking to slap steep tariff on Chinese imports says report

The March 9 front-page article "U.S. allies express confusion, anger and frustration" said European officials "made the rounds of congressional offices" and couldn't find anyone who thought President Trump was right to implement the tariffs. The administration has said these moves are a matter of national security, a nebulous argument that other countries could invoke as well if they chose to retaliate.

Brazil has said it will seek exemption from the newly imposed tariffs. Big Deficit. If not, we Tax Cars etc.

Trump's threat of tariffs is perhaps simply a strategic salvo created to elicit further concessions from Canada and Mexico in the NAFTA negotiations.

Any trade war with the United States will only bring disaster to the world economy, Chinese commerce minister Zhong Shan said on Sunday, as Beijing stepped up its criticism on proposed metals tariffs by Washington amid fears it could shatter global growth.

Australia recently imposed steel tariffs on Greece, Thailand, Indonesia, Spain and Taiwan, while Labor wants the government to triple the penalties for dumping products into the Australian market. It is very counterproductive. Its exemption is a ground for optimism that likewise, South Korea as a Washington ally will likely be included in the list of countries exempted from the tariffs.

The Commission refuses to negotiate over the issue, believing that Trump's tariffs are an attack on global trade rules and principles.

"We're going to ensure that Canadian steel is Canadian steel", he said at Dofasco, where he also promised unspecified measures to better protect workers' pensions where companies go under, downsize substantially, or are otherwise bought out.




RT: What sort of retaliation would you expect from China?

"There is still much for us to do, one side can not call the shots, we need to work hard together", Zhong said. On a similar note, China showed its determination to lead the counteraction of WTO members affected by the new US tariff policy. China urges the U.S. to deal with each other with equality rather than resort to these trade protectionist measures.

"The steel and aluminium sectors have been under attack by predatory trade practices", said Leo Gerard, president of United Steelworkers International.

Last year, the U.S. posted a $375 billion (€304 billion) deficit with China.

It looks hard to turn the situation around without making drastic overtures over steel exports to the US. "This process of tit-for-tat can induce at times trade wars that are in no one's interests", Azevedo said.

There are also fears that the USA could implement quotas. Both will be losers and the world trade will suffer as a effect. When Japan allowed its auto producers to control the auto distributors, it was declaring a trade war.

RT: Is this just a clever ploy by President Trump to get people around his table to talk about any sort of new deal?


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