Aluminum, Steel Tariffs Could Become Bargaining Chip In NAFTA Talks


Trump has said he's determined to impose a 25 percent tariff on steel imports and 10 percent on aluminum to protect national security.

However, he was a major proponent of free trade who was said to disagree with President Donald Trump's plan to slap stiff tariffs on imported steel and aluminum.

Rob Stutzman, a political strategist based in Sacramento, said Sessions' speech was "very politically charged, and he made a point of doing it in Sacramento".

Labor says it is important the Government has a contingency plan.

That's why economics is called the dismal science.

Are European officials planning their own form of retaliation? Rather than attributing that widening to the country's deteriorating public finances, he will attribute it to the idea that the country's import tariffs are not sufficiently high.

Australia's foreign minister Julie Bishop has doubled down on looming US trade sanctions, saying Australia will fight to be exempt from Trump's proposed steel and aluminium tariffs.

Their reasoning is the same one given by Sanders here - national security, the fear of unintended consequences as good relations between the U.S. and its allies turn bitter and things like information-sharing between intelligence bureaus and American military deployments in key regions become more politically fraught.

"We are for free trade, we don't want to build walls around our territory", she told AAP in Canberra on Wednesday night. These concerns are almost exclusively with China, with whom we run our largest trade deficit. Cohn, who put up with Trump's often-racist comments and actions, and who stood by him even as Trump would not break with the anti-Semitism of the Charlottesville, Va., white supremacists, resigned only when Trump kept a campaign promise.

Picking a fight over steel and aluminum distracts attention from the real battleground with China -intellectual property rights, including in high-technology and financial services, movies and music.

President Trump talks in strong terms about putting these tariffs in place.

With demand for US steel expected to increase, United States Steel Corp said it would restart one of two blast furnaces and steel-making facilities and rehire 500 employees at its Granite City, Illinois, plant.

Spot gold percent to $1,325.29 an ounce.

OIL: Benchmark U.S. crude lost 49 cents to $62.11 per barrel in electronic trading on the New York Mercantile Exchange.

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"Whatever the case, we cannot ignore the risk of protectionism", Ayako Sera, market economist at Sumitomo Mitsui Trust Bank. "More importantly, because of that, workers in our country have not been properly represented".

Meanwhile, the tariffs will hurt U.S. industries and workers that use now costlier steel and aluminum.

In March 2002, former President George W. Bush imposed tariffs up to 30 percent on most steel imports from Europe, Asia and South America. How many depends on how this all plays out. We're still expecting to learn the details of them later this week.