Automakers warn Trump metal tariffs would boost car prices


No countries will be exempt from the steep steel and aluminum tariffs that President Donald Trump announced, which have outraged allies and stoked fears of a global trade war, a senior White House official said Friday.

A spokesman for Mr Ciobo said the minister is hoping to speak with US Trade Secretary Wilbur Ross this weekend.

Hejazi says Canada is too financially dependent on the U.S. and adds he would like to see Canada trade more with other countries.

Trudeau made the comment Friday, adding that he is prepared to "defend Canadian industry". "Now we have plants being built". In a statement, Nebraska Senator Ben Sasse called the policy "kooky 18th century protectionism that will jack up prices on American families and kill American jobs".

And Bush imposed the tariffs in a traditional manner that forced countries to get WTO permission to retaliate. That's sure to take a bite out of the Trump premium the market has created. At this stage, while there is no significant impact on the credit profiles of sovereigns, there is an important warning.

China - the world's largest steel producer and Trump's primary target - stayed quiet about how it would respond. Because Trump plans to impose his tariffs under an obscure "national security" exemption, retaliation might happen immediately this time.

Meanwhile, the protectionist wing of the U.S. administration appears ascendant. This provision authorizes the president to restrict imports and impose unlimited tariffs on national security grounds.

"We will put tariffs on Harley-Davidson, on bourbon and on blue jeans - Levis", European Commission President Jean-Claude Juncker told German television.

But the U.S. president appears to be in battle mode.

An EU official explained: "Even if we don't employ certain words, we're ready and we'll react".

"We are of course a traditional partner of the United States, so we would be submitting to them that they shouldn't be catching New Zealand steel exports in a regime like that if they introduced it".

Galimberti said the Canada Border Services Agency would need more resources to quickly investigate and enforce trade rules, including rules against dumping.

US steel and aluminium trade tariffs would have negligible direct impacts on Australian iron ore exports and its major export client China. The World Trade Organization is "clearly concerned", director general Roberto Azevedo said.

Domestic politics may have played a role in Trump's decision.

The Malaysia External Trade Development Corporation (Matrade) offices in the US are currently monitoring the moves by the US government.

A study funded by steel producers that supported the tariffs found that the tariffs brought back 16,000 steel jobs. Many involved in the deal thought Icahn had outmaneuvered Trump, according to The Washington Post's Drew Harwell. Steel and aluminum are used to manufacture anything from cars to cans. These companies may be forced to pass on increased costs from the tariffs to customers by raising prices, making American cars less competitive, said Keisuke Hanyuda of Deloitte Tohmatsu Consulting. The tariffs could have dramatic effects in Indiana. "It's got to work", Martinez said.

S. will slap a 25 per cent tariff on steel imports and a 10 per cent tariff on aluminum.

A "global trade war. means in concrete terms unemployment, less economic growth, and worse relations between trading partners", he said.