Trump Signals Metals-Tariff Exemption for `Our Ally' Australia

Commons

Navarro said tariffs for other countries' steel and aluminum would go into effect in 15 to 30 days.

Most experts agree that China is not moving fast enough to close steel mills and aluminum smelters that it no longer needs because its economy is growing more slowly as it has gotten much bigger. It's really an assault on our country. He was joined by steel and aluminum workers holding white hard hats.

Peter Navarro said relief from the roughly 25 per cent steel and 10 per cent aluminum tariff would be tied to how those countries respond at the NAFTA table.

"Caterpiller start having to layoff exponentially more workers, that's going to be more people in pain - different groups of people, perhaps", Shea said.

Zypries said the EU's Malmstrom was trying to solve the dispute through negotiations, adding: "There are still talks going on, things are in flux, so if you want you could say it's still about diplomacy and not war".

He added: "We urge the administration to take this risk seriously".

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Arkansas' senior U.S. Sen.

Trump's sudden push for the tariffs last week triggered fears of a global trade war and rattled financial markets.

If such tariffs are imposed, they further argued, the White House should: exclude all fairly traded products and those that do not pose a national security threat; announce a robust exclusion process that allows us companies to petition for and obtain duty-free access for imports unavailable from domestic sources; grandfather in existing contracts for aluminum and steel purchases; and review the policy's effects on the economy.

"What I have read today is that they are probably considering some exemptions to NAFTA countries. but also they have mentioned the United Kingdom and maybe some other countries", Katainen told reporters. "We just want fairness".

The EU's trade chief Cecilia Malmstrom warned on Friday, at a panel discussion in Brussels, that imposing tariffs is not the way to resolve overcapacity in the steel sector.

That scenario, Tom Donohue said, would endanger the economic momentum from the GOP tax cuts and Trump's rollback of regulations. He also said that the U.S. is open to modifying tariffs on individual countries, depending on how they treat the US.

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Trump said the "reciprocal tax" programme would ensure "fair trade deals" for the US. Trump temporarily exempted its North American neighbours, Canada and Mexico, from the newest measures.

Several Republicans and White House Economic Adviser Gary Cohn, however, have raised concerns about instituting such stiff tariffs on steel and aluminum imports.

Trump predicted the former Goldman Sachs executive would eventually return to his administration.

Lawmakers opposed to the tariffs, including House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell, have suggested more narrowly focused approaches to target Chinese imports. Specific steel and aluminum products could also be excluded and that authority will rest with Commerce Secretary Wilbur Ross.

While Trump argued that new tariffs would boost American steel and aluminum production, economists and business groups have warned that such tariffs could backfire and ultimately hurt the overall US economy.

Sen. Jeff Flake (R-Ariz.), a frequent Trump critic, said he would introduce legislation to nullify the tariffs.

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