China's foreign minister slams Trump tariffs

Monday, 05 Mar, 2018

Auto lobbyists were still scrambling to learn the details of the tariffs, said to be 25 percent on foreign steel and 10 percent on foreign aluminum, and whether they would apply to all countries and for what time period.

US President Donald Trump's sudden announcement on Thursday that his administration plans to impose duties of 25 and 10 percent on imports of steel and aluminum, respectively, comes as a seventh round of talks aimed at revamping the North American Free Trade Agreement (NAFTA) is underway in Mexico.

"American workers and American consumers will suffer as a result of the misguided tariff", it concluded.

"We in rural states understand the easiest target for other countries is always agriculture", Ernst said.

"We will not sit idly while our industry is hit with unfair measures that put thousands of European jobs at risk", he said.

"I think it's going to hurt us in the long run". Walker said Friday. "This scenario would lead to the exact opposite outcome of the administration's stated objective, which is to protect American jobs". It has been widely reported that Mr. Trump demanded to hold the public event on Thursday where he declared the United States will adopt steel and aluminum tariffs even though his staff wasn't ready to go ahead with the policy.

"If the European Union wants to further increase their already massive tariffs and barriers on USA companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S." he wrote.

"The president made clear these would be across-the-board tariffs with no exclusions", the official said.

Shares in big U.S. steel companies and manufacturers were under pressure on Friday on uncertainty over the effects of U.S. President Donald Trump's announcement of a plan to impose tariffs on steel and aluminum. This, while the steel industry has been making a comeback here.

"Trade wars are never won".

Steel and aluminum, which Trump has also targeted, account for about 2% of world trade, according to Capital Economics.

With global stock markets tumbling in the face of a brewing trade war, European Commission Vice President Jyrki Katainen sought to offer a degree of reassurance, insisting "there is a little window of opportunity still open" and that Europe was posing a danger to the US.

If he aims only at China, however, he would hit a mighty small target since China accounts for only 2.9% of US steel imports.