Sunday, 13 October, 2019

Korea Gets Temporary Exemption from Trump's Steel Tariffs

Tariffs of 25 per cent on steel imports and 10 per cent on aluminium revealed by Mr Trump this month are due to come into effect on Friday Korea Gets Temporary Exemption from Trump's Steel Tariffs
Patty Aguilar | 24 March, 2018, 13:26

A senior United States official has said that the European Union (EU) and six other countries will be exempt from steel and aluminium tariffs announced by President Trump, at least temporarily. "It is a odd way to negotiate with a partner".

"We still need to secure long lasting exemptions to lift the cloud of uncertainty from United Kingdom steel makers and steelworkers, in addition to addressing global capacity". He insisted Trump was taking the wrong approach to fighting dumping practices, in which countries overproduce a good and sell it on the market for very low prices. "We now look forward to pursuing a dialogue with the USA on trade issues of common concern, such as global steel overcapacity", she said on Twitter.

"We believe we are relatively close to a pretty comprehensive resolution with the South Korean government", Ross said at the White House. "Trade war is of no use to anyone", said Jean-Claude Juncker, chief of the European Commission, which handles trade talks for the 28 member states.

"This corresponds very closely to what we were expecting", an European Union source said on the sidelines of the summit. "We want good transatlantic relations, but we will react if we believe that worldwide trade rules have been harmed". "Everybody should realize this", Macron said.

The European Commission had proposed that if US tariffs were applied the bloc would challenge them at the World Trade Organisation.

"Each of these countries has an important security relationship with the United States", a proclamation from Trump announcing the steel decision said.

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Oak Point Wealth Management bought a new stake in shares of Amazon .com in the 4th quarter worth $125,000. (NASDAQ: AMZN ). As of now, ADT Inc . has a P/S, P/E and P/B values of 1.61, 0 and 1.67 respectively. (NASDAQ:CTXS) or 12,500 shares.

It said countries not on the list could discuss with Washington ways to address US national security concerns caused by imports of steel from that country.

Tariffs on imported steel and aluminum imposed by the United States comes into force starting March 23, the White House said in a statement on Friday.

Argentina, Australia, Brazil, Canada, Mexico and South Korea will also be exempt from the penalties of 25 percent on steel imports and 10 percent on aluminium, along with the European Union, he said.

The EU acknowledges that fundamental problems exist in the metals industry, but says there should be trans-Atlantic cooperation instead of competition, and certainly not hindered by the weight of temporary exemptions to trade sanctions.

European leaders were to discuss the looming threat of a transatlantic trade war after EU Trade Commissioner Cecilia Malmstrom returned from eleventh hour talks in Washington.

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