Posted on 05/31/2018 6:55:51 AM PDT by GIdget2004
The Trump administration will put tariffs on steel and aluminum imports from Canada, Mexico and the European Union, the latest action in a string of protectionist policies to crack down on alleged trade abuses.
The tariffs of 25 percent on steel imports and 10 percent on aluminum imports will take effect at midnight Thursday, Commerce Secretary Wilbur Ross told reporters. The U.S. gave those allies a reprieve from those duties, but the exemptions were set to expire Friday. The Trump administration will place quotas or volume limits on other countries such as South Korea, Argentina, Australia and Brazil instead of tariffs, he said.
The U.S. expects the EU to retaliate to the trade measures. The actions come as the U.S. tries to strike a revised North American Free Trade Agreement deal with Canada and Mexico, and settle other trade concerns with the EU.
"We look forward to continued negotiations both with Canada and Mexico on the one hand, and with the European Commission on the other hand, because there are other issues that we also need to get resolved," Ross aid.
The Trump administration move is only its latest in a series of actions targeting foreign countries' trade practices. Trump has repeatedly promised to crack down on trade practices that he says harm American companies and workers.
(Excerpt) Read more at cnbc.com ...
This is Germany’s punishment for their NordStream pipeline deal with Russia and their refusal to pay their fair share into NATO, and their pivot to China.
This is France’s punishment for cozying up to the Iranians after we pull out of the Nuke Deal and their desire to hold us hostage to the awful Paris Climate Accord.
At the St. Petersburg Econ forum last week, France promised corrupt Russian oligarch-run businesses billions of dollars in investments, promising to bypass US sanctions, and Macron kept referring to Vladimir Putin as “Cher Putin” (Dearest Putin.) Even as Russia has done more than any country to compromise European stability and security via its incursions in Georgia and occupation of Ukraine. (Not to mention its downing of Malaysian Airlines Flight MH17!)
They picked their poison. Our only real allies in Europe include the likes of Poland and Romania.
Yeah, Russia is moving towards the NWO.
Of course "Christ-ler" would be killed on a Friday, "Good-ler" Friday. What will Jesus drive now?
We used to be the producers of metals until the liberals and RINOs sold us out!
Don’t know if any of you read this, but typical Zero crap, does not surprise me anymore of the low handed, back stabbing crap these libs do:
:)
And they’re going to enjoy it!
https://nypost.com/2018/04/19/fed-says-trumps-steel-tariffs-will-kill-more-jobs-than-they-save/
http://www.businessinsider.com/trump-tariffs-on-aluminum-steel-could-cost-jobs-study-2018-3
https://www.bloomberg.com/view/articles/2018-03-02/steel-tariffs-talk-ignores-effects-on-manufacturing-jobs
https://www.forbes.com/sites/eriksherman/2018/03/06/3-more-ways-you-may-not-realize-that-tariffs-will-hurt-jobs/#6d7ee9226d9a
https://www.jsonline.com/story/money/2018/03/09/building-contractors-say-thousands-u-s-construction-jobs-lost-tariffs-steel-aluminum/409835002/
“But if this tariff takes effect, it will cost more jobs in this country than it creates, and not by a narrow margin, either.”
That’s right. “Free trade” has saved so many industrial jobs in the USA and Canada in the last 25 years - we are just rolling in dough !
Some people just can’t give up on their ideology, even if there is multi decades of evidence of failure: communism, socialism, progressivism, global warming, “free trade”...
Assuming these go into effect and stay in effect I will still have to see the actual numbers before I am satisfied.
The new tax cuts have given businesses a ton of avenues which can be used to mitigate the effects of a higher cost for raw materials.
At this point all of what is being said is a guess.
These are the waivers. The news is that they are not renewing the waivers. Twice was enough
Yea, on the one hand a deal with China could see then buying out as much as can be produced. That would weaken the hand of the West meaning fixing this steel issue would require them to give somewhere else. The fact is no one knows exactly how this will play out but Trump is the best shot to fix things. Also, the only one to actually ever try
Sorry, but U.S. tariffs slap U.S. consumers with forced higher prices. Shooting yourself in the foot. No good.
Hi HL! :-)
Yes, it was seen (somewhere??) No surprise here. He was certainly a busy little big eared clown before vacating our OO. Like a stubborn stain on concrete, there is no ridding ourselves of this fiasco who was once reigning over us. The trash has been removed from the building, but the garbage men must be on strike (union, I guess)
From his Wiki bio:
Leo Gerard, international president of the United Steelworkers union stated about Ross that "he was open and accessible and candid and honest and he put a lot of money back into the mills, so literally tens of thousands of jobs were saved."
Ross sold International Steel Group to Mittal Steel Company for $4.5 billion, half in cash and half in stock, in April 2005.
Instead of putting a political hack in as Commerce Secretary, Trump insert in there the best steel tycoon in the world!
American jobs! Hey Big Don, we're not yet tired of WINNING!
The only car mentioned in the new testament is the Accord.
But I am totally opposed to tariffs protecting individual, politically well connected companies or industries. That is pure cronyism.
I also think that before imposing tariffs we should get rid of all the regulatory shackles that make it hard for US business to compete.
You’re wasting your breath. St. Trump has spoken and the gleeful chorus at FR is singing his praises. Fact and principle be damned.
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