Mar 02 2018
Canada will retaliate against any US tariffs on steel and aluminium products, officials said on Thursday, as Ottawa faced what could be one of the biggest economic threats since Donald Trump became president.
Trump said the duties of 25 percent on steel and 10 percent on aluminum will be formally announced next week as the government seeks to protect American manufacturers, Reuters reports.
Trump believes the tariffs will safeguard American jobs but many economists say the impact of price increases for consumers of steel and aluminum, such as the auto and oil industries, will be to destroy more jobs than they create.
The report called for a 24 percent tariff on steel exported from all countries and higher tariffs on exports from 12 targeted countries: Brazil, China, Costa Rica, Egypt, India, Malaysia, Republic of Korea, Russia, South Africa, Thailand, Turkey and Vietnam.
By the time foreign trade partners hit back with reprisals, the tariffs may boomerang on Harley-Davidson (HOG), Jack Daniels and soybean farmers, and the list may get a lot longer. Agriculture is the number one target.
"I work with the president when I think he's right and I work against him when I think he's wrong", Brown said. They employ more workers than steel and aluminium mills, and Anheuser-Busch InBev NV has already urged Trump to reconsider.
Critics have warned that he would be tempting a trade war, but Mr. Trump insists that he is reversing decades of unilateral surrender to foreign competitors.
Canada is the biggest exporter of steel to the US and most of that steel comes from our area. The European Union has said it will take action if "unjustifiably hit" by the tariffs. Any sweeping new tariffs are expected to be contested at the World Trade Organization.
In another blow to a West Wing under siege, CNN reported Thursday that Federal Bureau of Investigation counterintelligence was probing a deal sealed by the President's daughter Ivanka in Canada to see whether it left her vulnerable to foreign agents.
In other words, it's hard to imagine a clumsier, more ham-handed way of seeking to redress unfair trade practices than a 25% tariff on global steel imports.
Another reason is likely that trade with the US was too valuable to exporting nations around the world. By contrast shares of steel consumers fell with Ford Motor Co down over 3 percent and General Motors Co down nearly 4 percent.
Eddy Hayes, an worldwide trade lawyer and chair emeritus of the board of the World Trade Center in New Orleans, said Trump's move puts the U.S.in "unchartered territory".
Despite reported divisions in the White House over the wisdom of major tariffs, Trump appeared determined to stick to his guns. Trump on Thursday announced plans to slap tariffs. "Flat products accounted for the largest share of steel exports to the United States in both Canada [58% or 3.1m metric tons] and Mexico [39% or 1.2m metric tons], respectively".
A move to impose tariffs "caters to the steel belt in Pennsylvania and OH to 'bring steel back.' It takes two years to build a steel mill".
Trump met with more than a dozen executives, including representatives from U.S. Steel Corp., Arcelor Mittal, Nucor, JW Aluminum and Century Aluminum.
"The largest importer of aluminum to the United States is Canada-one of America's strongest allies".
The tariffs have also divided industries, workers and policymakers. "We want a level playing field", said Dave Burritt, president and chief executive officer at U.S. Steel.
"We are pleased that the president has made a decision to use all the tools at his disposal to send a clear message to foreign competitors that dumping steel products into our market will no longer be tolerated", Ferriola said in a statement. "Steel is a basic industrial commodity".
Mar 02 2018
Arsene Wenger Says Criticism has Reached "Earthquake" Level
The 23-year-old has been in terrific form for City this season, appearing 35 times and scoring 20 goals. I'd like to tell him that I am close, I am on the same side as him".
Mar 02 2018
MI vs. Nebraska - 3/2/18 College Basketball Pick, Odds, and Prediction
Of all the players on the team, playing in New York City meant the most to senior guard and Brooklyn-native Mike Williams. Minnesota shot just 35 percent from the field and 16 percent from 3-point range in the 65-54 defeat against Rutgers.
Mar 02 2018
What Supreme Court Justices said in debate over union fee case
Public sector unions also have helped keep Democrats in power in blue states and kept organized labor from extinction. When union membership is voluntary, he said, some members stop paying, and dues go up for the rest.
Feb 25 2018
Olympic results 2018: Canada wins men's hockey bronze medal
Neither team scored in the second period, but a wild back-and-forth stretch in the third period saw Canada extend its lead to 6-2. The last time Russian Olympians won gold in men's hockey was in 1992 when the Unified Team finished atop the competition.
Feb 25 2018
Kohli missing for India as South Africa bowl
Man of the Match Suresh Raina , who hit a six off the first ball he faced, said he was intent on hitting the ball from the outset. That was enough to create some pressure and Dhawan was run-out off the first ball of the over that followed.
Feb 25 2018
Republicans File for Stay of State Supreme Court Maps
If one of the new attempts is successful, it could leave Pennsylvania voters in limbo in the months leading up to the May primary. Rose Reeder, president of Fair Districts PA in Clinton County, said that the new map is a step in the right direction.
Feb 25 2018
American Men Win Olympic Curling Gold, Beat Sweden 10-7
All the United States of America needed to do is not allow Sweden to score three points to tie it and the gold medal was theirs . Ten men would be split into two , five-person teams (one alternate) and given money to train and compete in tournaments.
Feb 24 2018
QB becoming popular selection for Dolphins in National Football League mock drafts
Nelson is expected to return, but the undersized speedster has been affected by dropped passes throughout his three-year career. Since they could free up $3 million by cutting Howard, getting a starting offensive tackle in the draft would be a wise move.
Feb 24 2018
Trump suggests more guns in schools to combat shootings
In a viral Tweet, he said that, historically, school shootings last 3 minutes but it takes 5 to 8 minutes to respond. Shah said. "Our School Resource Officers are armed police officers employed by our local law enforcement agencies".
Feb 23 2018
SpaceX Falcon 9 Launch
The launch took place a day later than planned; liftoff was scrubbed Wednesday due to high winds in the upper atmosphere. Each nose cone costs £4.3m, the website says, so its recovery could bring down the cost of SpaceX's subsequent missions.
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