Trump singles out Germany for criticism ahead of tariff rollout

  • Trump singles out Germany for criticism ahead of tariff rollout

Trump singles out Germany for criticism ahead of tariff rollout

Bob Corker, said today he fears that President Trump's tariffs on steel and aluminum imports could end up hurting the usa economy by triggering a trade war and hurting us exports while raising consumer prices. Trump also mentioned Australia when speaking to reporters at the White House earlier in the day.

The president will have the discretion to add or subtract countries and raise or lower the tariffs at any time, a senior administration official said.

Surrounded by a group of steel and aluminum workers, President Trump signed off on his plan to impose tariffs on steel and aluminum imports Thursday at the White House.

Canada, which sells about 90 per cent of the steel produced in this country to the United States, is exempt for now.

Action that does not include exemptions risks retaliatory tariffs on USA exports - not least by Canada and Europe - and complicates already tough trade talks on NAFTA. He added that NAFTA was an important part of the U.S. -Canada-Mexico security relationship.

India's miniscule export of steel to the United States means it may breathe freely, but not other major countries.

The new tariffs take effect in 15 days, with Canada and Mexico indefinitely spared "to see if we can make the deal", Trump said, referring to a possible renegotiation of the North American Free Trade Agreement.

EU Commissioner Cecilia Malmstrom, who coordinates policy for the world's biggest trading bloc, said she shared USA concerns about overcapacity in the steel sector but did not believe in tariffs as a way to solve the problem.

Mr Trump has approved levies of 25% on imported steel and 10% on imported aluminum.

The Department of Commerce recommended tariffs and other actions in a January report to the president, saying weak domestic steel and aluminum industries pose a national security threat because they could disrupt military procurement.

The tariff plan has angered US allies, including Canada, Mexico, Britain and members of the European Union, who argue that their exports to the United States do not pose a threat to USA national security.

Corker said he shares Trump's concerns about China dumping excess steel on the world markets.

Cohn wasn't the only one angered and blindsided by the president's decision to impose tariffs on steel and aluminum imports, despite the fact that it's an issue Mr. Trump has consistently complained about for decades.

The order also ostensibly provides room for America's other allies to sue for exemption if they can demonstrate "alternative ways to address the threatened impairment of the national security".