losangelesnewstoday.com
losangelesnewstoday.com May 20, 2018


Trump Trade War - South Korea exempted from steel tariffs

05 May 2018, 01:35 | Katrina Lee

Trump to extend steel, aluminum tariff relief to some allies — but not all

As steel tariffs squeeze U.S. businesses uncertainty threatens economic growth

The prolonged exemptions for Canada and Mexico come as the Trump administration is working to renegotiate the North America Free Trade Agreement among the three countries.

The White House announced the decisions shortly before the temporary exemptions were due to expire but did not provide any details on the terms of the agreements reached.

"It's dawning on foreign leaders that decades of warm relations with the U.S. carry little weight with a president dismissive of diplomatic norms and hostile toward the ground rules of global trade", the paper notes.

However EU leaders seemed less confident despite recent bilateral meetings between German Chancellor Angela Merkel and French President Emmanuel Macron with President Trump.

"The U.S. decision prolongs market uncertainty, which is already affecting business decisions", the EC said. "The EU should be fully and permanently exempted from these measures, as they can not be justified on the grounds of national security".

Last month, Trump directed the Office of the U.S. Trade Representative to assess a plan to impose $100 billion in new trade tariffs on China.

Trump tweeted on Tuesday that there was "great potential" for the U.S. in addressing the trade disparities with other countries.

But Brazil's Foreign and Trade Ministries said on Wednesday the USA government had called off talks on April 26 after giving Brazil the option of picking between tariffs or quotas. Very much like North Korea, this should have been fixed years ago, not now.

He added, the same goes for other countries and NAFTA, but he reassured the American people all of it will get done.

Arsenal boss Arsene Wenger slammed for friendly exchange with Jose Mourinho
But perhaps, in time, he will recognise the way its closing stages mirrored how his games at this stadium have always been: full of drama.

President Donald Trump announced the punitive action against China in late March for what the administration says is rampant theft of United States technology and know-how.

Trump has launched a broad commercial offensive to fulfill electoral promise that led to industrial America, which is to reduce gap between what United States imports and what it exports. "But we can only do that calmly when we are certain of being permanently exempted from the threat of unilateral tariff increases".

In a joint statement on Wednesday, Brazil's foreign and trade ministers said they were informed of the decision by the United States to break off negotiations last Thursday.

"It's the methods, it's the tactics, it's the uncertainty, it's the impact on our supply chains that we're trying to communicate, and I'm just not convinced they're listening at this point", he said. She warned that trade relations between the allies could worsen if the European Union does not receive a permanent exemption.

Germany and France are among the main European Union countries to support the permanent exemption.

The Trump administration has been pushing countries to accept quotas on the amount of steel and aluminium they export to the US.

The EU has threatened to retaliate if it is not exempt, which has raised fears of a trade war.

This is the same approach that Washington is taking with other trade partners.

Europe had lined up its own punitive tariffs on American imports, including iconic items like Harley-Davidson motorbikes, blue jeans and bourbon whiskey - but for now, instead, negotiations will continue. The quota amounts to 70 percent of the average of steel exports to the US over the last three years.



Other News

Trending Now

Marvel Premieres Full Trailer For Ant-Man and The Wasp
Considering how large and expansive Infinity War is, it's nice to be a little grounded (these will be the last puns, I swear). It's possible this has created a domino effect where Ant-Man has had to be shifted to best maximise the two films.

EPA set to unveil policy barring 'secret science'
The appropriateness of the assumptions and choices are not adequately evaluated in the standard peer review process. She has fought efforts by her GOP colleague Smith to get a version of the proposed rule passed into law for years .

Amazon to employ 3000 people at new Vancouver facility
The construction of this new facility is expected to generate additional funding for job training programs in Boston. The technology giant is expanding its team focused on Alexa and Audible, opening an office in Boston's Seaport.

Trump calls on Democratic senator to resign after VA pick drops out
The claims include that Jackson had wrecked a government vehicle after getting drunk at a Secret Service going-away party. Tester will face one of several Republicans vying to face him in November, including former State Rep.

Antetokounmpo's clutch tip-in boosts Bucks
For Boston , Stevens gave Greg Monroe just five minutes in Game 4 after he was effective in Game 3 , posting a double-double. The stakes couldn't be much clearer or more well-defined for the Celtics and Bucks heading into Tuesday's game at TD Garden.

Pleas for common sense gun reform raised after Waffle House shooting
Hartline said he did realize the customer was nervous about something when Reinking called the shop two weeks later on April 11. But Darlene Sustrich said Reinking began showing signs of paranoia in his last few days at the crane service.

More than 60 stranded after rollercoaster stalls at Universal Studios Japan
More than 60 passengers were stuck on a rollercoaster at Universal Studios in Osaka, Japan. "I don't want to ride it anymore". Speaking to Japan's Mainichi newspaper , one 24-year-old woman said: 'It's scary to think if we had been on board.

Asylum does not guarantee entry into the US
The crossing, the nation's busiest, processed about 50 asylum-seekers a day from October through February, suggesting the wait will be short.

President Trump facing possible subpoena to appear before a grand jury
But more recently, he and his team of lawyers, which has undergone changes in recent months, have not said when - or if. I say "so-called" because "collusion" is a media and a political word; it does not describe anything in the law.

HUD unveils plan to increase rent on millions receiving federal housing assistance
The increase will raise the previous standard by 5%. "Why would you raise it up if we can't afford where we're at right now". Carson's act doesn't propose a timeline, but Congress must approve the changes before they can go into effect.