Published: Mon, March 12, 2018
Global | By Marsha Munoz

Trump, Turnbull working on steel tariff exemption agreement

Trump, Turnbull working on steel tariff exemption agreement

Over 100 Republican House members have signed a letter expressing concerns about the damage the tariffs may do to trade and the companies that use cheap steel and aluminum imports in the US.

"I have to say, when President Trump says he's putting tariffs on the table, I think tariffs are one part of reworking our trade policy overall", she said.

"Great discussion today on security and trade".

"So we need to increase steel tariff to the extent that major producers see no benefit in trying to penetrate into the Iranian market", he said.

U.S. President Donald Trump set import tariffs on Thursday of 25 percent on steel and 10 percent on aluminium, to come into force in 15 days.

More news: Weather Watch: Nor'easter means snow on the horizon for Tuesday

"As long-standing security partners of the United States, (the European Union and Japan) underlined to ambassador Lighthizer their expectation that European Union and Japanese exports to the U.S. would be exempted from the application of higher tariffs", an European Union statement said after the talks.

Treasury Secretary Steven Mnuchin earlier said he expects countries in addition to Mexico and Canada to be exempted in the next couple of weeks. Big deficit. If not, we tax cars etc. Argentina made a similar case.

Germany - singled out for particular criticism by Trump - accused Washington of protectionism, calling the tariffs an "affront to close partners".

"We are friends. We are allies". Chief Cabinet Secretary Yoshihide Suga told a news conference that Japan's steel and aluminium shipments posed no threat to USA national security.

This shed light on Trump's attacks against Germany - the biggest economy in the European Union - that have accused Berlin of contributing much less than the U.S. toward the funding of North Atlantic Treaty Organisation.

More news: President Trump eyes Clinton impeachment lawyer for Russian Federation probe

"And they can do whatever they like, but if they do that, then we put a big tax of 25% on their cars, and believe me, they won't be doing it very long", Mr. Trump asserted.

She will meet US Trade Representative Robert Lighthizer and Japanese Trade Minister Hiroshige Seko in Brussels on Saturday when she will ask whether the European Union is to be included in the tariffs.

The US steel industry is under threat because it is incapable of competing with Chinese or even European steel producers, Sobhanifar said, adding that such a situation could threaten Iranian steel industry too.

US President Donald Trump and Australian Prime Minister Malcolm Turnbull shake hands.

The European Union and Japan, the United States' top economic and military ally in Asia, also reiterated that their exports were not a threat to US national security, rejecting Trump's justification for imposing the tariffs.

More news: Xi Jinping cleared to rule for life

A Eurofer spokesman also warned that the US's punitive tariffs not only make market access more hard for European steel but could flood Europe with imports from other nations unable to get into the U.S. market, pushing prices down and endangering EU jobs.

Like this: