Donald Trump tariffs would damage US, global economies

Donald Trump says 'trade wars are good' as Wall Street reacts badly to news of steel tariffs

It "makes no sense", the Prime Minister said. Our industries work together.

On the heels of a proposed Trump Administration tariff on imported steel and aluminum, USA stocks fell sharply on Thursday.

However, Mr Trump had doubled down on his moves, saying in a tweet that trade wars are good and easy to win. He rejected the plan as a clear intervention to protect US domestic industry. This was presidential impulse. Hey, how is the Commerce Secretary supposed to know?

Trump also complained about the trade deficit, attributing it to "our "very stupid" trade deals and policies".

What are the different types of diabetes?
Last night, research bodies welcomed the new study, but stressed more examination of the drug's effects was still needed. Diabetes classification has been typically restricted to three types until now - types 1 and 2 and gestational diabetes.

Foreign minister Chrystia Freeland warned earlier of a budding trade war over the issue, saying Canada is prepared to "take responsive measures to defend its trade interests and workers", Reuters reports.

He said the tariffs would have a "major impact" on the European economy, citing producers with operations with France like the global steel giant ArcelorMittal and Vallourec, a world leader in industrial tubing, among those that would be affected.

The Beer Institute, the beer industry's national trade association, also came out against Trump's tariff decision on Thursday.

Trump's argument is that the United States is "losing" at trade and needs to fight back by punishing foreign steelmakers in China and elsewhere. Canada is its largest supplier.

White House denies national security advisor McMaster set to exit
For months, reports have grown of National Security Adviser H.R. McMaster in the Oval Office", Anton said Thursday evening.

"There seems to be a fake news thread here that somehow modest and measured tariffs on aluminum and steel are going to cause massive inflation downstream", said a senior White House Official, who labeled press stories and criticism "hyperbole".

And countries do retaliate, as a deterrent, to protect their own, and as a response to their own angry publics. Canadian officials have been making them for 10 months.

Shares also fell in sectors that could be hurt by the tariffs - from rising prices for steel and aluminum buyers such as auto and machinery makers, to the threat of possible counter-tariffs against US companies such as Harley-Davidson (HOG.N), who sell their products overseas. "They've been horribly treated by other countries, and they have not been properly represented".

China also condemned the move, with a Chinese foreign ministry spokesperson saying: "If all countries followed the example of the United States, [it] will undoubtedly result in a serious impact on the worldwide trade order". Trade wars "aren't good for anyone", he said in Paris. The announcement angered key U.S. allies - Canada, the EU, Australia, Mexico and China. Last April, Mr. Trump pulled back at the last minute from a plan to announce a withdrawal from NAFTA, and went into negotiations. Bush pointed to damage done to American steel companies.

'Beast from the East' sends Europe mercury plummeting
In Belgium, one local mayor has warned homeless people they will be detained by police if they refuse to go to shelters. On Wednesday, there's more snow and more of a windchill - bringing a unbearable cold feel we're not used to.

Related news:

Hot News

isis-killer-beheading-video-story-top Uber passenger blacks out, takes $1600 ride
Mar 05, 2018 - 01:33
You go out on the town, have one too many margaritas, and need to call an Uber home. "Afterwards I had it fully sink in", he said. Bachman challenged the fare, but Uber officials told NJ.com that he agreed to pay for the ride after they got in touch with him.

isis-killer-beheading-video-story-top Markets Right Now: Plans for steel tariffs sink United States stocks
Mar 05, 2018 - 01:30
Wednesday's plunge left the Dow down 6 percent from its January 2018 all-time high, while the S&P 500 is off about 5.5 percent. The Cboe Volatility Index.VIX, the most widely followed barometer of expected near-term volatility of the S&P 500 index .

isis-killer-beheading-video-story-top Man shoots himself near White House
Mar 05, 2018 - 01:27
The incident took place in the absence of the US President Donald Trump as he was on a visit to Mar-a-Lago resort in Florida. The suicide took place a week after an armed Tennessee woman slammed her auto into a security barrier near the White House.

isis-killer-beheading-video-story-top China's top political advisory body opens annual session
Mar 05, 2018 - 01:24
Amending the Constitution is a big event in the country's political life and a major legislative activity with wide-ranging implications, he said.

isis-killer-beheading-video-story-top Netanyahu faces eighth questioning in graft probes
Mar 05, 2018 - 01:21
Netanyahu is suspected of acting to benefit internet giant Bezeq, also owned by Elovitch, for favorable coverage on the news site. In Case 1000, police say Netanyahu received gifts worth 1 million shekels ($280 million) from overseas businessmen.

isis-killer-beheading-video-story-top Anthony Scaramucci Says He's Banned From The White House
Mar 04, 2018 - 05:05
Kelly also provided reporters with a more fulsome time line to the Porter scandal. The chief of staff also said the claims shocked him and the rest of the staff.

isis-killer-beheading-video-story-top Marine Le Pen facing jail after posting images of terror atrocities
Mar 04, 2018 - 05:04
The Front National (FN) leader is not the only member of her party facing the same charges. She later deleted the image of Foley after receiving a request from his family.

isis-killer-beheading-video-story-top Elton John explains storming off stage, says fan was 'rude, disruptive'
Mar 04, 2018 - 05:04
It's not a coincidence that F*cked Up and Elton John have very different approaches to onstage interactions. In a statement given to E! Then it all got a bit much for the Rocket Man who got up and left the stage.

isis-killer-beheading-video-story-top Armenian recipe of democracy: parliament votes for only presidential candidate
Mar 04, 2018 - 05:03
Armenia seceded from the Soviet Union in 1991, but remains dependent on Russian Federation for aid and investment. In remarks to parliament yesterday, Sarkissian said Armenian society has become more divided in recent years.

isis-killer-beheading-video-story-top Aer Lingus confirm all flights cancelled until Saturday
Mar 04, 2018 - 05:03
So, if you do have flights or transport planned for tomorrow, make sure to check online before leaving your house. Many easyJet flights from Gatwick, its biggest base, and its headquarters airport of Luton, are also grounded.

isis-killer-beheading-video-story-top No Injuries Reported In Bizarre Attack On Lidl Store In Dublin
Mar 04, 2018 - 05:02
Dublin Fire Brigade confirmed that they attended the scene after reports of a fire, but say there was no fire at the scene. The spokesperson said: "We are aware of a number of incidents in the Tallaght Garda district".

isis-killer-beheading-video-story-top Why India celebrates Holi: the legends behind the festival of color
Mar 04, 2018 - 05:02
Colour-smeared people greet each other and spread happiness, as the whole country celebrates Holi with great fervor on Friday. Holi is considered a Hindu festival - but it is still celebrated by Indians across the country as a national holiday.

isis-killer-beheading-video-story-top Kylie Jenner unveils first full image of baby daughter Stormi
Mar 04, 2018 - 04:58
But despite her attractive long nails and freshly manicured hands, isn't stopping her from changing dirty diapers. Earlier this week , Kylie proved she was back to her best on social media when she revealed her post-baby body.

isis-killer-beheading-video-story-top Ray Parlour names who the next Arsenal manager should be
Mar 03, 2018 - 00:31
And that proved to be the final straw for supporters and pundits alike and they now demand Wenger's 22-year reign comes to an end. When asked about his future at Arsenal , Wenger said he is "amazed I still have to answer these kinds of questions".

isis-killer-beheading-video-story-top Buy Samsung Galaxy S9, S9+ for as low as Dh128 in UAE
Mar 03, 2018 - 00:26
The Google Pixel 2 and Apple iPhone X didn't occupy the top two spots on DxOMark's Mobile camera rankings for very long. Then there is the DeX Pad which will allow users to connect their Samsung Galaxy S9 to the monitor.