European Union dismisses Trump's vehicle threats, vows to 'stand up to bullies'

UPDATE 1-Canada's Trudeau tells metal workers 'we have your backs'

UPDATE 1-Canada's Trudeau tells metal workers 'we have your backs'

Canada is the largest market for the United States, with 283 billion US dollars worth of goods exported to Canada in 2017.

Oklahoma farmer and rancher Jimmy Wayne Kinder said the tariffs will increase the price of equipment, and will impact Oklahoma wheat farmers - 50 percent of the state's crop is exported. Another way to look at the cost side is that tens of millions of American families are forced to pay a little bit more, maybe $20, for the sugar we use every year.

US President Donald Trump on Thursday announced new tariffs for steel and aluminum imported to the US.

Xi has charmed the trousers off Trump, who appears envious of the Chinese government's military parades, press controls and disregard for human rights.

"We're going to ensure that Canadian steel is Canadian steel", he said at Dofasco, where he also promised unspecified measures to better protect workers' pensions where companies go under, downsize substantially, or are otherwise bought out.

The Trump administration is seeking to raise tariffs on a wide range of Chinese goods.

"More American workers lost their jobs in 2002 to higher steel prices than the total number employed by the USA steel industry itself (187,500 Americans were employed by US steel producers in December 2002)", the report concluded.

But in wartime, aluminum and steel are essential to make tanks, planes and other weapons. They are the visible beneficiaries of Trump's tariffs. Late a year ago, Washington approved big tax cuts for businesses, and investors sent stocks surging.

Auth believes a global trade war is unlikely, although he won't rule it out. Their reach is in almost every sector of the US economy - and that gives the tariffs a wide and worrying reach. To my Foolish eye, though, that still leaves U.S. Steel stock looking like the most expensive stock in a highly valued metals sector - and the one most vulnerable to a fall. Tariffs would apply not only to information technology products, often the target of intellectual property theft, but also consumer goods like clothing.

"These measures could make a significant impact on the economic and cooperative relationship between Japan and the US, who are allies", said Japan's foreign minister, Taro Kono.


Canada, the top supplier of steel and aluminium to the USA market, has been temporarily exempted from the tariffs, along with Mexico.

It has also lined up 2.8 billion euros of US products, from bourbon to motorcycles, on which to impose tariffs so as to "rebalance" trade flows.

Trump could then follow through with a threatened new tariff on European-made automobiles.

The general economic view of trade protection says that tariffs transfer money from a good's consumers to its producers. If China is found guilty of infringement, the subsequent punishments from the United States could inflict more pain on the Chinese economy.

Due to its robust aluminum recycling industry, the United States now leads the world in secondary aluminum production, according to the Commerce Department. The U.S. now faces retaliation from its trading partners, from China to the European Union.

Steadily rising Chinese production increases pressure for mills to export, putting downward pressure on prices and undercutting exports from U.S., European, Japanese and South Korean mills.

"The industry isn't doing as bad as their press releases say it is", says steel analyst Charles Bradford, president of Bradford Research.

Australia's BlueScope has expressed concern that United States tariffs would impact one part of its operations there. The construction industry would take the biggest hit.

The costs to the world economy could grow further if countries impose their own tariffs on US products, raising prices for goods globally and undermining economic confidence.

The Office of the U.S. Trade Representative sent a proposal to the White House seeking tariffs on various Chinese products, restrictions on investment in the U.S.by Chinese companies and limits on visas for certain Chinese nationals, a source familiar with global trade said.

Recommended News

  • Sharad Pawar to host opposition meet by end of March: NCP

    Sharad Pawar to host opposition meet by end of March: NCP

    Even though Banerjee had been advocating a non-BJP non-Congress front, Pawar has invited the Congress as well, NCP sources said. The tussle started on the issue of the public sector bank frauds when the second half of budget session began on 5 March.
    Superb Dzeko goal sends Roma into quarter-finals

    Superb Dzeko goal sends Roma into quarter-finals

    Any chance of a Shakhtar fightback was effectively doomed by a straight red card to center back Ivan Ordets in the 79th minute. Dzeko's effort meant Roma were through to the quarter-finals on away goals having lost the first leg in Ukraine 2-1.
    Katy Perry suffers wardrobe malfunction in 'American Idol' twerk battle

    Katy Perry suffers wardrobe malfunction in 'American Idol' twerk battle

    Louis: Her father has given her 30 days to make her dreams of stardom come true, or else she's got to get a job. The producers liked her personality enough to put her in an interstitial Macy's commercial with Ryan Seacrest .
  • Packers, DE Wilkerson agree to terms

    Packers, DE Wilkerson agree to terms

    Pettine served in the same capacity for the Jets from 2009 to 2012 and coached Wilkerson during his first two years in the league. His best years were in 2013 and 2015, with 10.5 and 12 sacks respectively, but has only eight sacks the past two seasons.
    Tamil Nadu forest fire: Tourist guide arrested

    Tamil Nadu forest fire: Tourist guide arrested

    The blaze left faces of a few women trekkers disfigured, making identification a challenge for the health department, he added. The bodies have been sent for identification and they would be handed over to the relatives after an autopsy.
    Aditya Narayan apparently took wrong U-turn, leading to accident: Mumbai cops

    Aditya Narayan apparently took wrong U-turn, leading to accident: Mumbai cops

    The condition of the auto rickshaw driver is being reported as critical, however, there has been no fatality in the accident yet. Aditya's medical examination is being carried on and he is likely to be questioned by the authorities on 13 March.
  • Zayn Malik Shares A Sour Instagram Post Following Split From Gigi Hadid

    Zayn Malik Shares A Sour Instagram Post Following Split From Gigi Hadid

    Malik called Hadid an incredible soul and explained that he was grateful for everyone that is respecting their decision. This could mean a number of things- maybe she is a busy person who just hasn't gotten around to it yet.
    Nicole Kidman to star in new HBO series 'The Undoing'

    Nicole Kidman to star in new HBO series 'The Undoing'

    In the mean time, fans can look forward to seeing Kidman reprise the role of Celeste on Little Lies when it returns for Season 2. Abrams' Demimonde , Jordan Peele's Lovecraft Country, True Detective, Sharp Objects, The Deuce and Here and Now, among others.
    Netanyahu to Host Last Ditch Talks to Save Crumbling Coalition

    Netanyahu to Host Last Ditch Talks to Save Crumbling Coalition

    Members of Netanyahu's government have argued in recent days over whether to extend the exemptions demanded by the ultra-Orthodox. Earlier this year, the President waived sanctions to give our lawmakers and our allies time to act.
  • President Trump floats military 'Space Force' idea

    President Trump floats military 'Space Force' idea

    After extensive politicking the US Congress passed the 2018 National Defense Authorization Act in November. We have the army, the navy ..." The proposed Space Corps would have fallen under the Air Force branch.
    Malcolm Butler Signing With Titans After Four Seasons With Patriots

    Malcolm Butler Signing With Titans After Four Seasons With Patriots

    Between those career landmarks, Butler started 54 of a possible 55 games and played more defensive snaps than any Patriots player. Butler played four seasons in New England, winning two Super Bowls with the Patriots.
    Q2 2018 hiring intentions in Singapore: Sectors most likely to hire

    Q2 2018 hiring intentions in Singapore: Sectors most likely to hire

    Staffing levels are expected to grow in all eight Asia Pacific countries and territories during the April-June time frame. Hiring prospects weaken in three of the four regions when compared with the previous quarter.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.