Mar 03 2018
World Trade Organization Director General Roberto Azevedo expressed concern at U.S. President Donald Trump's plan for tariffs on steel and aluminum on Friday, an extremely rare intervention into a WTO member's trade policy.
Trump's decision - which leans on a rarely-used trade provision allowing protections for national security - could hit other countries far more than China, which is the world's largest steel producer but accounts for less than one percent of United States imports.
President Donald Trump announced Thursday he intends to impose duties of 25 per cent on steel and 10 per cent on aluminum, with no mention of excluding Canada, which is the main supplier of both metals to the U.S.
While US officials said some details of the tariffs still needed to be ironed out, White House spokeswoman Sarah Sanders said on Friday the levels of 25 per cent for steel and 10 per cent for aluminium were not expected to change. Liu He is due to stay in Washington until Saturday.
A spokesman for the PM said the Government is talking to United States counterparts to find out how the new trade war will affect the UK. Since April 2017, the Trump Administration has been contemplating a hike in tariffs for a broad range of steel and aluminum mill products, based upon a rarely used provision of US law.
Canadian Prime Minister Justin Trudeau said he has spoken directly to Trump to indicate his displeasure with the tariffs, Canadian media reported.
In January, Ford warned that higher prices for metals such as aluminum and steel would be a significant drag on its earnings this year.
"Risks of trade wars are rising, but should be contained for now", said Cesar Rojas and Ebrahim Rahbari of Citigroup in a report.
Local steel industry officials are applauding President Trump's push for tariffs on steel and aluminum. "More importantly, because of that, workers in our country have not been properly represented", the president told the gathering, which was attended by top industry executives.
"We also don't see a chance for fine tuning, exceptions, carve outs, or a country-by-country policy" in the short term, the group said in a research note.
"It just makes no sense to highlight that Canadian steel or aluminium could be a security threat to the United States", he said. This kind of tit-for-tat strategy loses the bigger picture of US trade relationships.
"When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win", Trump said on Twitter on Friday. The American International Automobile Dealers Association said the tariffs could cause the cost of a vehicle to rise a lot. In 2003, he estimated losses in steel-consuming industries at a maximum of 43,000 jobs.
Industries that consume aluminum and steel products add far more to U.S. economic output than companies which produce these metals.
US Commerce Secretary Wilbur Ross played down the fears, saying "hysteria over tariffs is a lot to do over nothing". Trump used an obscure provision of existing trade laws to enact the tariffs, which are expected to be challenged in global courts in the coming months.
"Such a broad and sweeping order could have a negative impact on the entire US economy, potentially costing U.S.jobs and ultimately, hurting American consumers through higher prices for everyday products", the Hershey spokesman adds.
Mar 03 2018
How Trump's Tariff Punch Hurt His Pro-Business Agenda
Hejazi says Canada is too financially dependent on the US and adds he would like to see Canada trade more with other countries. He views the tariffs as a way to pressure trading partners into submission and wipe away the long-standing trade deficit.
Mar 02 2018
Jaguar's first all-electric vehicle launched
That's nearly exactly the same overall length of the Jaguar XE sedan but with a wheelbase that's half a foot longer. The top unit is used for navigation and audio functions, while the lower handles climate and convenience features.
Mar 02 2018
History Suggests Trump Tariffs Will Not Spark a Trade War
Despite reported divisions in the White House over the wisdom of major tariffs, Trump appeared determined to stick to his guns. By contrast shares of steel consumers fell with Ford Motor Co down over 3 percent and General Motors Co down nearly 4 percent.
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
Man United have favourable path to Champions League quarterfinals
United and Chelsea are set to lock horns in Premier League battle with just three points separating them in the table. Blues boss Conte has clashed numerous times with United manager Mourinho since arriving at Stamford Bridge in 2016.
Feb 25 2018
Germany stun defending champions Canada to reach Olympic final
This is the Olympics . "Honestly I did think we could win a medal, but it was very, very hard ", said Switzerland's De Cruz. The all-around play in the match was excellent, with both sides making hard shots to repeated oohs and aahs from the crowd.
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
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
Greensboro Church Began As A Result Of Billy Graham Crusade In 1951
Pastor Thad Gifford is the founding and lead pastor of the Crossroads Community Church, 2343 U.S. He has been reunited with his wife and other family members and he has seen Jesus face to face.
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