Trump Temporarily Excludes EU, 6 Other Allies From Steel Tariffs

Calvin Saunders
March 26, 2018

Firing off a warning shot, China on Friday declared plans to levy additional duties on up to $3 billion of USA imports in response to US tariffs on steel and aluminum, imposed after a separate USA probe.

If you're an American who likes wearing Victoria's Secret bras, Guess jeans or Nike shoes, chances are you'll feel the impact of the $50 billion in tariffs that President Donald Trump is expected to unleash on Chinese imports.

"We hope the United States keeps calm about China's development, which can benefit itself as well", he said.

No one would talk on the record about the broader concerns of USA business in trading with China.

The United States had a record $375.2 billion goods trade deficit with China a year ago. "This is a serious problem that the USA side is keenly aware of".

But Lighthizer said the USA can impose costs on certain behaviours and try to mitigate their impact: "We can at least be in a position where USA industry isn't wiped out".

WH is assessing how to amend its strategy in response to the tariff, spokesman Luis Chein said.

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The country's regulatory regime is still highly restrictive, says Atlanta-based UPS, which entered China 30 years ago through a joint venture agreement and took ownership of its business there in 2005.

The United States on Friday officially filed a trade complaint at the World Trade Organisation (WTO) against China over its alleged discriminatory technology licensing practices.

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"We don't want a trade war, but we are not afraid of it", said the spokeswoman, Hua Chunying.

US agricultural exports to China stood at $19.6 billion a year ago, with soybean shipments accounting for $12.4 billion.

That said, global demand for Chinese exports has helped fuel growth recent, offsetting other economic ills, such as excess capacity in the industrial sector.

"During the same period of time, the American economy sputtered".

"Multiple reports indicate the Chinese have USA soybeans squarely in their sights for retaliation, and this decision places soybean farmers across the country in financial danger", said ASA President and Iowa farmer John Heisdorffer.

"It's natural for us to have to address things that we don't agree on". Lighthizer apologized for referring to one Democrat's opinion as "nonsense", and snapped back when another Democrat chided Trump for making up trade stats with Canadian Prime Minister Justin Trudeau.

Canadian Association of Importers and Exporters president Joy Nott also thinks higher prices for goods could encourage more Americans to shop in Canada.

Senate Finance Committee Ranking Member Ron Wyden welcomed the decision. Many are still reliant on domestic consumers for revenue, reducing their exposure in the event of a trade war. "Our country must stand up against China's trade blackmail, so I am encouraged that the administration is focused on protecting the technologies that China publicly targeted", Wyden said.

The European Union, Australia, Argentina, Brazil and South Korea will at least temporarily be exempt from the steep tariffs in imported steel and aluminum President Trump announced earlier this month.

"The administration should instead pursue a comprehensive approach centred around several strategic priorities". Yet underlying Trump's action is a simmering resentment on the part of US business interests that China has spent almost two decades unfairly protecting its markets and industries while at the same time enjoying the fruits of open and profitable trade that came with its entering the World Trade Organization (WTO) in 2001.

Other reports by MaliBehiribAe

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