Commerce secretary to push EU to lower tariffs

Commerce secretary to push EU to lower tariffs

Commerce secretary to push EU to lower tariffs

Canada, for example, is the top USA source for aluminum and steel imports, so Trump exempted it from the tariffs announced, but only temporarily, saying: "We're going to hold off the tariff on (Canada and Mexico) to see whether we can make the deal on NAFTA".

Trump said the tariffs, which will come into effect 15 days after he formally unveiled them Thursday, will not initially apply to Canada and Mexico.

Meanwhile, the European Union is filing a complaint with the World Trade Organization, arguing that the obscure, national security-related trade law Trump used to justify the tariff violates WTO rules.

"We are passionately committed to free trade, but it must be fair", said Turnbull.

Trump said in a tweet on Saturday the United States was ready to drop its tariffs if the European Union lowered its "horrific" rates on US products. "We just want fairness", Mr. Trump said.

Earlier Mr Turnbull had ruled out Australia joining an global revolt against the steel tariff or a 10 per cent tariff on aluminium. House Speaker Paul Ryan, R-Wis., said he disagrees with the move, and other congressional Republicans are hoping to block the duties with legislative action.

In the end, Trump's tariffs might help him win the battle for Ohio, Michigan, Pennsylvania or Wisconsin, but they will lose him the war in terms of trade.

While that kind of talk makes agriculture very nervous, Mr. Trump said he is optimistic there will be a NAFTA deal, "I have a feeling we are going to make a deal on NAFTA".

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He added, "Working very quickly on a security agreement so we don't have to impose steel or aluminum tariffs on our ally, the great nation of Australia!"

The prime minister is on a cross-country tour of aluminum and steel factories to demonstrate his government's support for workers in light of potential threats to those industries from the USA administration.

The EU exports around five billion euros ($4 billion) worth of steel and a billion euros worth of aluminum to the USA each year, and the European Commission, the bloc's executive arm, estimates Trump's tariffs could cost some 2.8 billion euros.

"Our industries have been targeted for years and years by unfair foreign trading practices", Trump said at the signing ceremony, "And that's going to stop".

Worldwide trade secretary Dr Liam Fox hit out at the Trump administration over steel tariffs in a statement to the House of Commons this evening. While no further bilateral meetings are planned at the moment, contacts are ongoing as the European Union is racing against time to secure an exemption before the aluminum and steel tariffs are enacted in less than two weeks.

Trudeau said Canada had a lot more work to do and would press Washington to ensure the exemptions were permanent. The steel tariff investigation was launched to see the impact of steel imports on USA national security. The U.S. industry's leading trade group, the American Chemistry Council (ACC), is condemning the measure, saying it will hurt industry competitiveness.

Steel workers build a structure in Ottawa, Canada.

"In today's environment, there's a number of our US citizens who think that they've lost their job as a result of global trade".

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