Science

Heading towards a trade war?

Heading towards a trade war?

After arguing that trade wars were good over the weekend, President Donald Trump dismissed the idea that the U.S.is gearing up for a trade war over proposed aluminum and steel tariffs on Monday.

Trump announced last Thursday that the United States planned to impose 25 per cent of tariff on steel imports and 10 per cent for aluminum, as these imports threaten the USA national security.

He made the comments as the United States, Canada and Mexico were wrapping up their latest round of talks on revamping the 1994 NAFTA deal, and as U.S. and world shares dipped again, partly on concerns that Trump's tariff plan could spark a global trade war. Looming over the meeting were a series of tweets fired off by Trump earlier in the morning calling the agreement "a bad deal for U.S.A". "How much further proof do we need that the USA government is bargaining in bad faith?"

He added, "Also, Canada must ... treat our farmers much better. Millions of people addicted and dying", he said.

"What we're encouraging the administration to do is to focus on what is clearly a legitimate problem and to be more surgical in its approach so that we can go after the true abusers without creating any kind of unintended consequences or collateral damage", he said.

The tariffs, like Trump's threats to blow up NAFTA, are poised to hurt voters in red-state Trump strongholds, as well as the superrich GOP donor class and ... The president is unhappy with what he perceives to be imbalanced trade between the U.S. and other countries.




"I don't think so", Trump said.

Trump told reporters on Monday that he was "not backing down" from the proposed tariffs despite promises of retribution from other countries and warnings from leaders of his own political party.

"TRUMP: "I don't think you have a trade war".

Last Thursday, Trump hinted he would impose hefty duties on imported steel and aluminum in an effort to protect American producers.

The analysts commented that the country might choose another tactic - to complain to the World Trade Organization (WTO) on the case. When services - not jut goods - are figured in, the USA has a trade surplus with the Great White North.

Trump has threatened to withdraw NAFTA pact since the 2016 campaign, saying the 24-year-old deal allowed manufacturers to relocate to Mexico and take advantage of cheaper labour, The Washington Post reported.


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