USA to Impose New Steel, Aluminum Tariffs 'Very Quickly' - Treasury Secretary

Evarado Alatorre
Marcha 14, 2018

"We will be impacted by any general USA - sourced steel price increases, but we do not expect a material impact given the majority of our contracts are longer term".

President Trump's negotiating tactics often show him throwing out an idea, watching his critics set their hair on fire, and then finding common ground with a less severe approach.

"At this stage we can not measure the impact of the tariff".

"I'm concerned that after everything we've done to help our constituents through tax reform, the tariffs the president recently announced are going to undermine some of these recent gains", said Rep. Kevin Yoder, Kansas Republican. We would hand leadership of the world trading system to China. "We knew a decision would come".

Trump has already made good on his word by pulling America out of the TPP, and now he has NAFTA in his sights. That is the Commerce Department's position and, it would seem, President Trump's too, and therefore justifies some form of action in order to protect US national security.

"We don't have all the details but we are going to continue to engage with USA officials and show them the benefits of the integrated North American aluminium supply chain", said Gagnon.

"What we're hoping is that the Canadian government will find a long-term solution..." During the nearly 10 years since the global financial crisis of 2008, it is obvious that a currency war is being experienced between countries with substantial weight in global competition such as the U.S., EU, Japan and China over the expansionary monetary policies of the central banks.

"We are the leading primary metal supplier for those products that are used to manufacture for example the Ford F150", said Gagnon.

Labour MP Stephen Kinnock, whose constituency in south Wales includes the giant Port Talbot steelworks, said Theresa May had "let down" British workers by failing to stand up to the US President.

Mexico recognizes the problem of global steel oversupply and will keep seeking solutions, but NAFTA talks shouldn't be subject to other domestic US policies, the country's Economy Ministry said in a statement. "As an independent nation, we would be the 10th largest economy in the world and continue to create a lot of jobs". During his presentation, he said it was essential that Canada stop relying on the take the majority of its aluminium and develop a new market in Europe.

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"With Trump in power, the aluminium industry is also up in the air", were Simard's prophetic words at the time. "So how do we make sure that we tackle those things and be forceful and forthright without setting off a needless trade war?" With only a small part of its steel production exported to the US India may not suffer a major loss at this point.

"Trade wars are not won, they are only lost", Flake said in a statement shortly after the president signed the tariff proclamations. But uncertainty remained about exactly how the Trump administration will administer the new tariffs and how other countries will react.

"Rio Tinto has recently been growing its market for Kitimat aluminium in the USA, and given that, ironically, our countries are now attempting to renegotiate a new fair trade agreement under NAFTA, this move by the troubling to our members".

Already, European leaders have vowed that the European Union would respond to USA tariffs by imposing tariffs on such iconic American products as Levi's jeans, Harley-Davidson motorcycles and Kentucky bourbon.

"It's no accident that these duties were announced while NAFTA talks are underway". Of European Union threats of retaliatory tariffs, he said. While there is a broad consensus in the USA on the need to force China to change its predatory policy, Trump's steel tariff is a sledgehammer to kill a fly.

Right now, the proposed tariffs are 25 per cent on steel imports and 10 per cent on aluminum across the board, but White House spokesperson Sarah Huckabee Sanders said Wednesday Canada and Mexico might get a "carve-out" for reasons of national security.

Malmström will have a chance to make the EU's case again on Saturday, when she meets US Trade Representative Robert Lighthizer in Brussels.

Rep. Steve Pearce, a Republican also running for governor, said he'd try to ensure the tariffs don't hurt the state.

"The auto supply chain is completely intertwined".

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