Trump charges Ross with pushing European Union to lower tariffs, European Union objects

Trump charges Ross with pushing European Union to lower tariffs, European Union objects

US Commerce Secretary Wilbur Ross will urge the European Union to lower its trade barriers, which are unfair to US farmers and industry, Donald Trump said on Monday.

Trump signed proclamations last week imposing a 25 percent tariff on steel and a 10 percent tariff on aluminum.

Alluding to the breakthrough, while not explicitly naming Mr. Trump, he said, "You've got to keep at it, you have to be relentless and if there's a setback, you just keep going find another approach".

Well before Trump's announcement last week, the White House had signaled that Mexico and Canada could be left off the list of countries targeted for punishment, and Mexican negotiators were already wary of the fine print.

It remains far from clear how, exactly, the Trump administration's tariffs will be applied, which countries will be subject to them or how economically damaging the retaliation from the affected nations might prove. "If not, we Tax Cars etc".

Mexico and Canada were happy to hear about President's Trump's willingness to exclude them from tariffs on steel and aluminum exports to the U.S.

Even though the tariffs were meant to weaken the US's reliance on China, a trade war between the European Union and the USA would likely turn into a positive for both China and Russian Federation - oh, the irony!

Michael Dolega, economist at TD Economics estimates that about 5,000 to 10,000 jobs could be added to steel and aluminum production in the USA, but there could also be a loss of 25,000 to 50,000 jobs in metal-intensive sectors like machinery and transport equipment.

"The exemption represented a positive step in the right direction but we still have a lot more work to do", Trudeau told the room full of aluminum workers.

Australian Chamber of Commerce and Industry chief executive James Pearson said Australia must now use its diplomatic skills to help to avert a global trade war that no one will win. If our neighbors to the north call Trump's bluff, dairy farmers such as those of central NY - the No. 3 dairy producing state in the USA - could be collateral damage.

Trump stoked the fire on Saturday by suggesting even broader tariffs for the European Union if they don't address still-unspecified concerns. The Commission spokesman also pointed to United States import duties of up to 48 per cent on shoes, 12 per cent on textiles and 164 per cent on groundnuts. "It's absolutely, it's a level playing field and, in fact, the US has a large trade surplus with Australia". However, an across-the-board action against all steel and aluminum imports such as Trump was proposing affects countries that are playing by the rules, and makes US companies vulnerable to retaliation. "We believe that protectionism is a dead end".

"We have our economic relationship, we have our security relationship", he said.

Across the world, China, the world's second-largest economy after the United States, is also sending ominous signals.