March 18, 2018

UK's Theresa May raises 'deep concern' over tariffs in call with Trump

06 March 2018, 10:50 | Christie Tate

Trade wars are bad and never easy to win

Trump hails trade war as allies and markets recoil

"The United States has an $800 Billion Dollar Yearly Trade Deficit because of our "very stupid" trade deals and policies".

Trump is expected to justify his proposed metal tariffs by invoking a 1962 law that authorizes the president to impose tariffs unilaterally if doing so is necessary for "national security".

Of all the foolish ideas to issue from Donald Trump's brain, perhaps none has the potential to do as much harm as his recently announced plan to raise tariffs on steel and aluminum.

Wang Hejun, head of China's commerce ministry's trade remedy and investigation bureau, said in a statement the tariffs would "seriously damage multilateral trade mechanisms represented by the World Trade Organization and will surely have huge impact on normal global trade order".

President Donald Trump on Sunday appeared determined to plow ahead with substantial new import tariffs on steel and aluminum, despite a storm of criticism both at home and overseas.

A USA official said Friday possible exemptions to the measures would be considered on a case-by-case basis.

Liu, who also leads the Chinese side in the Comprehensive Economic Dialogue, was the second member of the Politburo to travel to Washington in less than a month, after Yang Jiechi, the country's top diplomat visited earlier in February. "We're going to continue to make the case to the White House", added Brady, who met with Canadian Foreign Minister Chrystia Freeland at the Canadian embassy later in the afternoon. "But I can't see how this isn't part of warlike behavior", he said.

China has warned that it does not want a trade war with the USA, but will not sit idly by if its economy is hurt. "They flood the world market with this product and that ripples down to our shores and to other countries", he said.

Game 10: No. 3 Purdue rallies, eliminates tourney darling No. 14 Rutgers
Haas, who is usually reliable from the free throw line, missed the front end of a one-and-one, not once but twice in crunch time . Yet, he was equally impressive Friday at Madison Square Garden for MI basketball, scoring 21 points in a 77-58 win over Nebraska.

Trump said the European Union has "trade barriers far worse than tariffs", and again threatened to "tax their cars" if they go through with their response.

India had won two trade disputes against the United States in steel until now but Washington had not fully implemented the WTO recommendations in the second dispute of 2006.

Trump has repeatedly threatened to dump the treaty, and the tension surrounding steel tariffs has stirred new doubts.

But even a deal that protects exports from Canada, the biggest steel supplier to the United States, would not solve all of the industry's problems.

"So now we will also impose import tariffs", Juncker said.

A major South Korean business lobby, the Federation of Korean Industries, said on Sunday it sent letters to the US Congress seeking an exemption.

The Trump administration is telling the Sunday talk shows that Canada won't be excluded from anticipated tariffs on steel and aluminum, while Canadian officials are contemplating retaliation to the tariffs. Steel and solar panel importers, particularly China, have been undercutting USA businesses on price, driving down domestic margins and flooding the market with supply. "I have no reason to think he's going to change".

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