Trump to meet on tariffs as China issues warning

Trump Has Played Right Into China's Hands

Trump Has Played Right Into China's Hands

"We are focusing very much on gaining an exemption and that is what all our efforts have been directed to from the Prime Minister to the Trade Minister, all our officials, all our diplomats and that is what I have been doing here in NY".

And Warner questioned whether tariffs will resurrect the US steel industry the way Trump is boasting they will.

"If we don't make the deal on NAFTA and if we terminate NAFTA because they're unable to make a deal that's fair for our workers and fair for our farmers. and fair for our manufacturers, then we're going to terminate NAFTA and we'll start all over again or we'll just do it a different way", the president remarked.

"It's really an assault on our country", Trump said during a hastily arranged event at the White House.

The tariff order included provisional exceptions for steel and aluminum imports from Canada and Mexico, pending the outcome of renegotiations on the North American Free Trade Agreement, according to White House officials. So which is it?

The tariffs will not apply to Canada and Mexico initially, with officials saying that security and trade partners could negotiate to avoid the measures coming into effect.

However, many Republicans have expressed discontent with Trump's plans for a global trade war.

"We want Congress to understand that this would be a lose-lose situation", Moscovici told BFM TV.

Republicans and United States trading partners have also been urging Mr Trump to reconsider his plan to impose a blanket 25 per cent tariff on steel imports, and a 10 per cent on aluminium.

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Trump also emphasized the possibility of remaining "flexible" with individual countries in the new tariff proposals.

Trump cited the close relationship between the three countries, including national security ties, as justification for the decision.

The tariffs come into force in two weeks, and if the 28-nation European Union can not secure an exemption, it has threatened retaliatory tariffs on US products like peanut butter and orange juice.

Cohn, the former president of Goldman Sachs, was Trump's director of the National Economic Council and widely seen as a connection between Trump's administration and Wall Street.

The head of the United Nations trade and development agency Unctad said the tariffs would take a toll on poorer countries and could trigger takeovers in their mining industries.

"Taking retaliatory measures won't work in the interest of any country", he said at the press conference.

Trump's authority to establish the tariffs stems from a Commerce Department investigation that found that imports of the metals pose a risk to national security.

Next week, Trudeau will tour regions of Canada that are heavily reliant on the steel and aluminum industries in a show of solidarity for those who would be hurt most by stiff US tariffs. General Motors Co. says it supports trade policies "that enable USA manufacturers to win and grow jobs in the U.S".

"Trade wars are not won, they are only lost", Flake continued.

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