Trump administration will put steel and aluminum tariffs on Canada, Mexico and the EU

CNBC ^ | 05/31/2018 | Jacob Pramuk

[GIdget2004]

The Trump administration will put tariffs on steel and aluminum imports from Canada, Mexico and the European Union, the latest action in a string of protectionist policies to crack down on alleged trade abuses.

The tariffs of 25 percent on steel imports and 10 percent on aluminum imports will take effect at midnight Thursday, Commerce Secretary Wilbur Ross told reporters. The U.S. gave those allies a reprieve from those duties, but the exemptions were set to expire Friday. The Trump administration will place quotas or volume limits on other countries such as South Korea, Argentina, Australia and Brazil instead of tariffs, he said.

The U.S. expects the EU to retaliate to the trade measures. The actions come as the U.S. tries to strike a revised North American Free Trade Agreement deal with Canada and Mexico, and settle other trade concerns with the EU.

"We look forward to continued negotiations both with Canada and Mexico on the one hand, and with the European Commission on the other hand, because there are other issues that we also need to get resolved," Ross aid.

The Trump administration move is only its latest in a series of actions targeting foreign countries' trade practices. Trump has repeatedly promised to crack down on trade practices that he says harm American companies and workers.

[Architect of Avalon]

This is a message sent by President Trump.

The text of the message is

Don’t **** With America

[sargon]

I'm not big on excessive tariffs, but any nation who wants to scrap with the US on trade suffers from one critical problem:

In the entire world, no market is more prized than the US market. Every trading nation on Earth—and that would be virtually all of them—wants access to the US, whose consumers (per capita) have the highest standard of living, the most disposable wealth, and the greatest economic clout in the on the planet. And even if that weren't true, the rest of the world would still believe it was...

[ek_hornbeck]

Canada and Mexico are both conduits for Chinese/Asian parts that are relabeled “Canadian” or “Mexican” on arrival in these so-called “friendly” neighboring countries.

Even if this weren't so, doing away with NAFTA and having tariffs on Mexican goods in particular (and on the manufactured goods of any country with vast wealth/labor cost disparities in comparison to the US) would be a boon to US industry.

[xzins]

I agree. The best theme parks charge more than the average ones. Pay to play in the world’s best economic market is only common sense

[Kalamata]

I 100% trust DJT in every economic action he takes. I sometimes wonder how fast he would move this country forward were it not for the marxist demons blocking him at every turn.

[Enduro Guy]

Damn well put.

[Enduro Guy]

I 100% trust DJT in every economic action he takes. I sometimes wonder how fast he would move this country forward were it not for the marxist demons blocking him at every turn.

Ditto.

[bert]

Meanwhile, the producer of the tarrifed material must bitch and moan for local consumption.

Having been warned for many months, any capable government should already have a plan for the certain to come negotiating encounter with the Trump government. Bitching and moaning to the presstitutes is certain to be part of the plan