Trump tariffs exempt Canada and Mexico


Trump tariffs exempt Canada and Mexico

US President Donald Trump on Thursday signed an order imposing stiff and sweeping new tariffs on imported steel and aluminum, defying protests at home and overseas and raising the spectre of trade wars.

Trump signed two proclamations that levied a 25 per cent tariff on steel and a 10 per cent tariff on aluminium imported from all countries except Canada and Mexico.

President Trump signed a controversial order implementing heavy tariffs on imported steel and aluminum Thursday, calling the action "a matter of necessity for our security" and saying it would help to revitalize fading American industry.

Trump said the tariffs would take effect in 15 days.

Mexico and Canada were granted immediate exemptions from the tariffs because of the ongoing NAFTA renegotiation talks, Trump said.

European Union officials said that while they shared USA concerns about overcapacity in the steel sector, tariffs were not the answer, and stressed Europe's historic ties to the United States.

President Trump has signed tariffs on steel and aluminum imports from some countries. The administration has argued that America's reliance on foreign aluminum and steel has caused atrophy among domestic manufacturers, which they say could leave us unable to meet our national security needs in the event of a war.

'The dumping of cheap Chinese steel into the United Kingdom took our world class British steel industry to the precipice because of the British government's inaction.

Trump in recent weeks had complained India's tariff on the import of American motorcycles-specifically Harley-Davidsons-was too high.

Orrin Hatch, the Utah Republican who chairs the Senate Finance Committee and who has enjoyed a close relationship with Trump, called the president's latest move policy "misguided".

On Friday last week, when Australia was taken by surprise by Trump's announcement that he wanted to impose tariffs, trade minister Steve Ciobo warned that Australia reserved the right to doing anything necessary to protect the national interest if it wasn't exempted from the tariffs.

That scenario, Tom Donohue said, would endanger the economic momentum from the GOP tax cuts and Trump's rollback of regulations. Ron Johnson are both speaking out against tariffs announced by President Donald Trump.

More than 100 House GOP lawmakers sent a letter to the president Wednesday urging him to "reconsider the idea of broad tariffs to avoid unintended negative consequences to the USA economy and its workers".

Conservatives and free-trade groups also panned the decision.

Canadian Foreign Minister Chrystia Freeland told reporters in Toronto that NAFTA is "a completely separate issue".

The president has said the tariffs are needed to reinforce lagging American steel and aluminium industries and protect national security.

"If you don't want to pay tax, bring your plant to the U.S.", he said.

"They are taking this really seriously, but they wish it was a bad dream", Lapointe said before the tariffs were announced.

South Korea and Australia both said they would seek exceptions.

Tonight, Speaker Paul Ryan said he feared there could be "unintended consequences" after the introduction of the tariffs.



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