Trump's aluminum tariffs could be coming for our precious cans of beer

05 March, 2018, 01:36 | Author: Luis Fowler
  • Trump 'Trade Wars Are Good And Easy To Win'

Navarro, the director of the Office of Trade and Manufacturing Policy, during the interview argued that China is the source of the problem despite its low place on the list of exporters.

"Anything that will distort that integration will not be good news for North America and definitely will make our industries less efficient in terms of competition".

He stressed that it makes no sense for the U.S. to claim there's a national security imperative for imposing the duties, given the level of security cooperation between the two countries.

We don't see this ending well: It likely kills more domestic jobs than it creates because costs will go up for the basic materials used to produce cars, trucks and six-packs of beer. "This can not be a unilateral transatlantic action by the Americans", he said.

"You don't typically hear a president argue for raising tariffs by announcing that he is starting a trade war and then trying to spin his trade war as a good thing for the country", Hayes said.

The World Trade Organization and International Monetary Fund have both issued statements voicing concerns about President Trump's sudden imposition of a 10% tariff on aluminum imports, and a whopping 25% tariff on steel imports.

"These tariffs are very likely to accelerate a tit-for-tat approach on trade, putting USA agricultural exports in the crosshairs, said Brian Kuehl, Executive Director for the group Farmers for Free Trade".

Canada and the European Union said they would bring forward their own countermeasures.

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His company makes mini metal components for industries like health care and aerospace, and he gets material from domestic and worldwide sources.

New Zealand will not be making any threats of retaliation against Donald Trump's plan to put tariffs on imports of steel and aluminum, Trade Minister David Parker says.

The newspaper said the George W. Bush administration in 2002 imposed high tariffs, hoping to protect US steel firms, which prompted fierce protests from the European Union.

Mr Ryan also wants Mr Trump to consider other approaches before taking action.

He later tweeted: "Our steel industry is in bad shape".

Trade wars are a lose-lose game. That is followed by Brazil and South Korea, with steel imports from China down 5% in the most recent period.

With global stock markets tumbling in the face of a brewing trade war, European Commission Vice President Jyrki Katainen sought to offer a degree of reassurance, insisting "there is a little window of opportunity still open" and that Europe was posing a danger to the US.



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