Sunday, 13 October, 2019

18 trade partners urge USA to reconsider tariffs

Pres. Trump Signs Tariffs Lawmakers Divided ABC News
Patty Aguilar | 11 March, 2018, 00:29

Mr Katainen said Brussels wanted "clarity" on how the tariffs will be implemented and was ready to enforce retaliatory measures to protect European interests if needed. It intends to hit a range of USA goods with punitive tariffs in retaliation should the bloc face the U.S. import taxes. But Malmstroem said Trump's motives in this case do not appear compatible with World Trade Organization rules and that this means the European Union can activate safeguards to protect its own markets.

Along with a huge range of steel products, the EU's hit list of flagship American products lined up for counter measures includes peanut butter, bourbon, whiskey and denim jeans.

"We want Congress to understand that this would be a lose-lose situation", he said.

China's steel and metals associations urged the government to retaliate, citing imports from the United States ranging from stainless steel to coal, agricultural products and electronics.

The EU's top trade official said the U.S. failed on Saturday to provide full clarity on how Europe could be spared from Washington's controversial steel and aluminium tariffs, but said talks would continue next week. Chief Cabinet Secretary Yoshihide Suga told a news conference that Japan's steel and aluminum shipments posed no threat to U.S. national security.

The dispute has fueled concerns that soybeans, the United States' most valuable export to China, might be caught up in the row after Beijing launched an inquiry probe into imports of U.S. sorghum, a grain used in animal feed and liquor.

The Commission said that this would be unlikely as the decision under the trade enforcement regulation would be subject to qualified majority voting. Trump tweeted that he spoke with Japanese Prime Minister Shinzo Abe, saying they are "discussing opening up Japan to much better trade with the U.S. now have a massive $100 Billion Trade Deficit".

EU, Japan seek to be excluded from USA tariffs in talks
German Chancellor Angela Merkel urged dialogue and warned that "no one can win in such a race to the bottom". USA trade representative Robert Lighthizer is expected to join the two for broader talks later Saturday.

Rabada faces suspension after Smith incident
Fast bowler Kagiso Rabada was responsible for that big comeback, taking three wickets in the space of two overs just before tea. The hearing will be heard by match referee Jeff Crowe on Saturday evening, with Rabada set to contest the charge.

RS polls: Narayan Rane to file nomination from BJP quota
With a surplus of 28 votes, the BJP needs the support of four Independents and cross-voting to get its ninth candidate elected. After ensuring entry of its candidate Jaya Bachchan to the upper house, SP will be left with 10 spare votes.

Malmstroem said that the European Union, the world's biggest trading bloc, rejects Trump's reasoning that the tariffs are backed by the global legal right to protect national security. "From what we understand, the motivation of the U.S.is an economic safeguard measure in disguise, not a national security measure".

Zypries said in a statement she hopes Trump will change his mind regarding slapping tariffs on steel imports.

"Thank you for confirming new tariffs won't have to be imposed on Australian steel & aluminium - good for jobs in Australia and in U.S.!"

As well as making it harder for European metal to find buyers in the United States, tariffs could also mean other foreign producers redirect their output to the EU, pushing the market there down.

She recalled that similar USA action on steel in 2002 by then president George W. Bush "cost thousands and thousands of U.S.jobs" and said she hoped that Washington has not forgotten this.

At the origin of the problem is overproduction by China, which has flooded world markets with steel and aluminum, driving prices down and intensifying pressure on producers in the USA and Europe.

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