Trump may exempt more countries from trade tariffs

Trump may exempt more countries from trade tariffs

"Absolutely vital. Steel is steel".

"China is by far the largest producer and exporter of steel, and the largest source of excess steel capacity", the U.S. Department of Commerce found in the Section 232 report. Massive relocation of companies & jobs.

Trump called the "aggressive" foreign trade practices an "assault on our country". "It's really an assault on our country". Whereas the Permian in the United States is attracting massive amounts of investment.

But the United States does not have a trade deficit with Canada.

The fact that Canada might be included on the initial hit list had become a political sore spot for the administration.

Last year Rio Tinto and the other aluminium producers in Canada exported a combined 2,759,000 metric tons of aluminium, valued at over USA $5.6 billion, to the U.S.

Trump's exemptions on steel and aluminum products from Mexico and Canada did not satisfy lawmakers. Canada and Mexico are excluded from the levies - provided they agree to renegotiate a North American trade deal to his satisfaction - and other countries could be as well.

President Donald Trump was sounding upbeat about NAFTA on Thursday, despite predictions that Canada could lose thousands of jobs if renegotiation talks fail.

"He's said it, but in terms of doing it, I don't think they actually will do that because it creates more friends for [Canada]", he said.

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Trump also pledged to impose "reciprocal tax" on countries like China and India if they do not match America's tariff.

Canada's ambassador to Washington dined this week with USA national-security adviser H.R. McMaster; Foreign Affairs Minister Chrystia Freeland, Natural Resources Minister Jim Carr, Defence Minister Harjit Sajjan, and Transport Minister Marc Garneau all reached out to cabinet counterparts in recent days.

By law, the tariffs need to be described as a national security matter. In order to be excluded, the proclamations state that the Secretaries of State, Treasury, and Defense must determine, in coordination with White House officials, that a product is not produced in the U.S.in a sufficient and reasonably available amount or of a satisfactory quality.

The White House said Wednesday that Mexico, Canada and other countries may be spared from tariffs under national security "carve-outs". He did not explain how those round numbers managed to survive intact, even after the formula was later upended by the exclusion from tariffs of major suppliers. We have a trade surplus with Australia.

By giving countries a potential sanctuary from tariffs, Trump might have temporarily lowered the temperature.

She also warned that if the issue can't be resolved bilaterally or through the World Trade Organization, then "we will have to protect our industry with rebalancing measures". And some experts noted there are far more OH workers in industries that use steel and aluminum than workers who make those materials.

"We're going to be very fair, we're going to be very flexible but we're going to protect the American worker as I said I would do in my campaign", Trump said during a Cabinet meeting.

If the WTO threw out the USA tariffs, the president - already critical of WTO rulings against America - might be tempted to pull out of the organization.

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