Friday, 18 October, 2019

China says USA soybeans 'prime target' over tariffs -trade group

China says USA soybeans 'prime target' over tariffs -trade group China says USA soybeans 'prime target' over tariffs -trade group
Russell Knight | 11 March, 2018, 03:21

"It is extremely regrettable. The measures will trigger confusion in the steel market not only in the United States but in Asia", Seko told a news conference.

Thursday in Washington, Trump ordered steep new tariffs on steel and aluminum imports to the USA, vowing to fight back against an "assault on our country" by foreign competitors. Agricultural trade has been a bright spot for US economy, positively impacting our overall trade balance, while providing an important avenue to grow demand for America's farmers and ranchers. The EU is threatening to respond by imposing approximately $3.5 billion in retaliatory tariffs on US agriculture, consumer and steel products. "We are deadly serious" about solving what the USA sees as unfair trade in steel and aluminum.

He also faced continued criticism from his Republican party, most notably House Speaker Paul Ryan who continued to lament Trump's move.

The developments Thursday cap a week of frenzied lobbying by Canada, and come after the seventh round of NAFTA talks, which concluded Monday.

Canada is expressing cautious optimism after Trump announced the country is exempt from the new steel and aluminum tariffs.

Being forced to rule on the Trump tariffs "would put the WTO in a tough spot", DeBusk says.

An analysis the Brookings Institution performed for MarketWatch found the state has more than 63,000 workers in industries that use steel and aluminum -- 50 times more than those who actually make steel and aluminum.

American steel and aluminum workers have always been betrayed, but "that betrayal is now over", Trump said. One lever that China has is United States agricultural exports and it has said in the past that it could target soybeans.

The EU insists that it is committed to open, global trade, and that Trump's tariffs are a protective measure to prop up USA industry that could undermine the worldwide trading system. That scenario, Tom Donohue said, would endanger the economic momentum from the GOP tax cuts and Trump's rollback of regulations.

"I am disappointed in this announcement and will be working with the businesses that may be potentially impacted by this decision along with the administration about how best to continue our joint efforts to create jobs and spur new growth", Gardner said.

South African officials charged over Williams masks
The news also comes as the ICC steps up an investigation into how video of the Warner-de Kock altercation was originally leaked. The two officials were photographed with three spectators wearing the masks at the match at St George's Park in Port Elizabeth .

Trump and Kim should not be left alone together, expert warns
The two countries have been locked in a formal state of war since the onset of the Korean War in the 1950s. At the news conference, he called Kim Jong Un , ruler of the repressive state, a "very good guy".

CM Arvind Kejriwal's hunger strike political drama: CAIT
The reason for the sealing of the commercial shops is, non-payment of conversion charges and violations of Delhi Master Plan. The CM had also announced that he would go on a hunger strike if the issue is not resolved by March 31.

He suggested in an earlier meeting with his Cabinet that Australia and "other countries" might be spared, a shift that could soften the worldwide blow amid threats of retaliation by trading partners.

"It is certainly not the right way to include Europe. because we are friends, we are allies, we work together, we can not possibly be a threat to national security in the US US so we are counting on being excluded", the Swede added.

People briefed on the plans ahead of the announcement said all countries affected by the tariffs would be invited to negotiate with the administration to be exempted from the tariffs if they can address the threat their exports pose to US manufacturers.

"I disagree with this action and fear its unintended consequences", he said, while welcoming temporary exemptions given to Mexico and Canada.

Mr Trump has also demanded concession from the European Union, complaining that it treated American cars unfairly and has threatened to hike tariffs on auto imports from Europe.

The Center for LNG, a liquefied natural gas industry group, plans to seek an exemption because some of the five kinds of steels it uses aren't available from USA sources.

Strategic tariffs on "select imports" from China might have a "materially larger impact" than the steel and aluminum measures under today's proclamation, analysts from UBS wrote.

Brussels is also looking at "safeguard" measures to protect its industry - restricting the bloc's imports of steel and aluminium to stop foreign supplies flooding the European market, which is allowed under World Trade Organisation rules.

"We need to make sure that we tighten our borders so we don't become the dumping ground", he said. "We have filed many trade cases and been successful on (claims before the World Trade Organization)".

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