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The Tariffs On Steel And Aluminum Products

- Mar 13, 2018 -

US President Donald trump has made a strong international response to the imposition of high tariffs on imported steel and aluminum, the company said on Wednesday.The us Treasury secretary responded that the us would consult with Allies on exemptions before the newly announced steel and aluminium tariffs came into effect.European countries are still looking for immunity from the tariffs, and negotiations between the eu and the us continue.The eu, however, has said it will retaliate if it does not.

The U.S. department of commerce announced the new rules in 10.

Mr Trump has issued an executive order in defiance of his Allies and domestic opposition, declaring that the us would impose tariffs of 25 per cent and 10 per cent on imports of steel and aluminium.The new order comes into effect 15 days later.

Canada and Mexico have been granted exemptions on the condition that the two countries must participate in the renegotiation of the north American free trade agreement.Other partners can negotiate for exemption from taxes.

U.S. Treasury secretary timothy muchin said the U.S. department of commerce will announce new rules on new policies within 10 days, and the commerce minister has the right to exempt certain products from certain products, while only the President has the power to exempt states.

Various parties expressed the search for immunity.

The European Union, Australia and Japan have said they will seek exemptions.

Australia's prime minister, Mr Turnbull said recently that he has with strong mandarin, said trump has pledged to Australia can exempt, next will work to establish a fair and mutually beneficial military and trade relations.

Mr Turnbull said the two discussed the importance of a "fair and mutually beneficial" trade relationship with Australia."The United States has a huge trade surplus with Australia," he said. "we also talked about a strong relationship between military and security in both countries."

In addition, the European Union's trade commissioner, malmstrom, vowed to push for an exemption for the European Union when he met with U.S. trade representative John leiter in Brussels."The European Union will certainly not pose a threat to national security in the United States, so we expect to be exempt," malmstrom told reporters.

Japan's minister of economic affairs, keisuke moomaki, will also meet with Mr. Lighthizer, asking the United States to "clarify" the new tariffs and ask for a waiver.

Brazil says it plans to negotiate a waiver.Brazil is the second largest source of U.S. steel imports.

European Union: no waiver of retaliation.

US President Donald trump said on October 10 that he would exempt the eu from tariffs on steel and aluminium if the eu removes its trade barriers to American products.

"The European Union is a great country, but it is extremely hostile to the us in trade, complaining about the imposition of tariffs on steel and aluminium," Mr Trump tweeted on October 10.If they remove the formidable barriers and tariffs on imported American goods, we too will undo them.The deficit is huge.If we don't, we'll also be taxed on cars.Fair!"

The European Union's eu trade commissioner, Mr Mamstrom, said Washington had failed to clarify how its Allies would be exempt from the tariffs.

Mr Malmstrom said he would continue consultations next week after talks with us trade representative Robert Lighthizer failed to resolve a bitter dispute between the two sides.Many fear the dispute could turn into a full-blown trade war.

The eu exports each year about 5 billion euros (about s $8 billion) of steel with about $1 billion of aluminum products to the United States, the European commission estimates that the new tariff measures will lead to the European Union must take an extra 2.8 billion euros.As a result, the eu has said it will retaliate if it does not.

American steelworkers or jobs are not guaranteed.

US President Donald trump wants to impose a tax on imported steel and aluminium products, and the us steel industry has cheered, but some steelworkers who import foreign raw materials may lose their jobs.

The U.S. steel industry employed about 147,000 people in 2015."The tax will lead to a significant number of jobs lost in the steel industry," said metal analyst brad Bradford.

Need to steel as raw materials for the production of enterprises such as the ford motor company, general motors, Campbell Soup (Campbell Soup) and so on, is expected to must pay a higher cost of production, because the U.S. steelmakers may be the opportunity to raise their product prices.

The us steel town of Pennsylvania will hold a by-election.Republican strategists point out that Mr Trump's high tariffs on imports of steel and aluminium products appear to be partly due to republican votes.Local steelmakers have praised Mr. Trump's tax decisions, with U.S. Steel Corp saying it will reopen two idle blast furnaces to create up to 500 jobs.


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