Ryan proposes 'smarter way' than Trump's steel and aluminum tariffs

Jeannie Matthews
March 12, 2018

"No, we're not backing down", he said Monday of his proposed tariffs on steel and aluminum imports.

Talks on the $US1.2 trillion ($A1.7 trillion) NAFTA pact are moving slowly, in part because Canada and Mexico are resisting USA demands for major changes such as adding a sunset clause and boosting the North American content of cars produced inside NAFTA.

The new import duty on China is said to be aimed at Chinese steel, which is quite often dumped in the United States market.

"When a country taxes our products coming in at, say, 50 percent, and we tax the same product coming into our country at zero, not fair or smart".

Canada and Mexico argue that NAFTA has benefited each country.

As President Donald Trump doubles down on his support for tariffs on steel and aluminum exports-tweeting out condemnation for the North Atlantic Free Trade Agreement (NAFTA) even as representatives from North and Central America meet in Mexico City-Republican lawmakers are breaking from the White House's nationalist platform. He was previously the highest-ranking Republican to voice concerns about the tariffs.

"Our country, on trade, has been ripped off by virtuallt every country in the world".

The Trade Partnership puts the number of jobs expected to be gained at 33,464 and the jobs lost at 179,334, resulting in the net loss of 145,870 jobs.

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For now, Trump agreed to exempt, Canada and Mexico and held out the possibility of later excluding allies like Australia. MARTIN: We'll have to wait and see what the outcome is and what these effects are when that actually takes place.

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During a rambling, hour-plus speech in Moon Township, Pennsylvania, Trump quickly endorsed Republican state Rep. "Hey, didn't we surprise them with women during the election?" he said , noting that his opponent was a woman.

French President Emmanuel Macron said the European Union must "react quickly" to USA plans that clearly breached WTO rules.

"There is clearly abuse occurring; clearly there is overcapacity, dumping and transshipping of steel and aluminum by some countries, particularly China", the Wisconsin Republican said. "How previous presidents allowed that to happen is disgraceful, but we're going to take care of it".

Countries facing steep import tariffs proposed by President Donald Trump are likely to sue the US for compensation and impose billions of dollars in retaliatory levies, experts say.

Ah yes, how far will Republicans go to stand up to Trump? Our friends and enemies have taken advantage of the USA for many years.

Uncertainty over the talks, and the potential for a wider global trade war, are making investors nervous.

Trump also offered some possible flexibility for Canada and Mexico if they deal on renegotiating the North American Free Trade Agreement (NAFTA).

One of President Donald Trump's chief trade policy architects offered a sobering statistic on Monday to critics railing against the chief executive's new proposed tariffs on steel and aluminum imports. Chairman Kevin Brady of Texas has urged more targeted tariffs on unfairly traded products, rather than broad measures that could hurt economic growth, Aronson said.

The E.U. trade commissioner also weighed in with a threat to slap an import tax on a number of USA goods, including Levi's jeans and bourbon.

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