Trump says he'll remove tariffs if NAFTA deal can be reworked

Pat Wise
March 13, 2018

And when asked whether the tariffs might trigger a trade war, Trump dismissed the prospect.

"Canada would view any trade restrictions on Canadian steel and aluminum as absolutely unacceptable", the statement read.

Currently, the US, Canada and Mexico are renegotiating NAFTA.

If the USA can impose these tariffs on steel and aluminum on the basis of "national security", someone else is sure to try for tariffs on food, or clothing, or various other products on the same basis. While there are only about 5,500 steel workers in California, there are more than 100,000 workers in industries that use steel and would face higher costs.

"So now we will also impose import tariffs".

Lee called the tariffs a "huge job-killing tax hike on American consumers", while Sasse says similar tariffs in the past have caused American families to suffer. "Tariffs will also harm the pro-growth effects of the tax cuts, stall the economy, incite a trade war, and help hand the election to the Democrats".

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California's business and political leaders must speak out clearly and loudly against these tariffs.

While most automakers, the American International Automobile Dealers Association, and analysts have all come out against the tariffs, the Hyundai had the strongest reaction, according to Bloomberg. Canada is also the biggest importer of US steel and aluminum.

Congress has ultimate Constitutional power over trade, although they have delegated a good deal of it by statute over the years.

The tariffs would increase jobs in the iron, steel and non-ferrous metals industries by 33,464, but the USA would lose 179,334 jobs throughout the rest of the economy. GOP congressional leaders like House Speaker Paul Ryan have come out against Trump's proposal. Stock markets around the world are spooked. Trump escalated those fears on Friday by writing on Twitter, "Trade wars are good, and easy to win".

Mr Trump repeated his belief that Nafta has been a "bad deal" that has taken jobs and companies out of the US.

As he met with Israeli prime minister Benjamin Netanyahu, Trump said: "Our country on trade has been ripped off by virtually every country in the world, whether it's friend or enemy". Unfortunately, Trump is not a student of history, or of economic policy. The Utah Republican's committee oversees most trade matters.

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