GOP senator to review Trump tariffs on steel, aluminum


Cohn, 57, who is a former Goldman Sach executive, resigned as the White House National Economic Council director over differences with the Trump's trade policies, including a move to impose a hefty 25 per cent tariff on the import of steel and 10 per cent on aluminium.

Trump said the "aggressive" foreign trade amounted to an "assault" on the U.S., but that he would also show flexibility with friendly countries, possibly removing tariffs for some. A White House official said Trump was referencing an ongoing investigation of China in which the US trade representative is studying whether Chinese intellectual property rules are "unreasonable or discriminatory" to American business.

The proclamation signed by Trump ordering the tariffs do suggest some possible grounds for exemptions based off the specific reasons listed for excluding Canada and Mexico.

House Speaker Paul Ryan, who is also from Wisconsin, issued a rare statement publicly breaking with the president.

Those two countries were excluded due to "shared" commitments on national security and the reduction of excess production of steel worldwide, a provision aimed mainly at state-backed Chinese companies that Trump blames for having flooded the world with cheap steel. He says they're working "very quickly" on an agreement that would exempt Australia from tariffs on steel and aluminum imports Trump ordered this week.

Speculation that President Trump is using his threatened steel tariffs as a ploy to renegotiate NAFTA may not play well with shippers associations.

"Whereas we share the concerns over overcapacity in the steel sector, this is not the right way to deal with it", Malmstrom said.

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The American Soybean Assn.

"These tariffs are a disastrous course of action from the White House". All were clips pulled from various YouTuber channels, presented out of context one after another.

This opens the floodgates for challenges, both domestically and internationally, as the legitimacy of the US position depends heavily on whether the USA national security claim is plausible, Levy argues. "Our competition in Brazil and Argentina is eager to capitalize on whatever openings these tariffs create for them in markets like China and elsewhere".

Malmström will have a chance to make the EU's case again on Saturday, when she meets US Trade Representative Robert Lighthizer in Brussels.

"There is absolutely a way to encourage growth in domestic industry without cannibalizing the success of agricultural trade".

"We urge the administration to take this risk seriously", Donohue said. We'll also see the price of ag equipment and inputs increase. However, both Canada and Mexico need to take the necessary steps to ensure they do not become points of circumvention for imports into the United States from other nations. An analysis by Brookings Institution past year showed that areas that voted for Trump are more dependent on exports, which foreign countries could target in retaliation.

Democratic Sen. Dick Durbin of IL said Trump's action was "like dropping a bomb on a flea" and could carry "huge unintended consequences for American manufacturers who depend on imported materials".