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Mexico Vows US Steel Tariff Retaliation

10 Mars 2018

Count veterans of NAFTA 1.0 among the skeptics.

Any trade agreement "has to be a trilateral accord, given the conditions of integration in North America", Guajardo said. "I think we have a way of managing through this". These aren't the sort of things you can just decide bang, bang. The report cautions, however, that more than half of the $185 billion of announced shale-related investments are planned future investments, and the uncertainty created by withdrawing from NAFTA could make the projects vulnerable to delay or derailment.

Lighthizer expressed an unprecedented urgency to get a deal.

And now, Donald Trump insults us. Campaigning will take off next month for Mexican presidential elections scheduled for July 1, and USA congressional midterms are set for later this year.

A more realistic timetable in Weekes's mind would be a deal by December. As reported in the New York Times, a Heritage Foundation analysis of Commerce Department data finds that US mills and smelters that supply aluminum and steel raw materials today employ fewer than 200,000 people, while the USA companies that buy those inputs for making everything from cars, to beer cans, to chicken coops employ more than 6.5 million workers.

"You never discuss publicly anything you're going to do, until you do it, if you are a responsible government", Mulroney said. "Trade agreements don't end before their time. The outcome of these and the sunset/review issues remain unresolved, but with common ground being sought", CCA said in its newsletter on March 5.

Earlier this month, Breitbart News obtained a draft letter from DHS staffers to Lighthizer highlighting the detriment to American workers caused by TN visas included in the current version of NAFTA. Of the roughly 30 chapters to complete, six are done so far.

"The renegotiation of NAFTA is really an opportunity for owners to truly understand the implications of the trade pact on their businesses", Elliott said in an interview.

It takes years to build a good friendship, and a very short time to destroy one.

But the NAFTA veterans suspect something else is afoot.

He said the blanket imposition of the tariff on the U.S.' historic allies, Canada and Europe, "is a real invitation to a significant commercial trade conflict that will serve no one". Then there's the third, middle-of-the-road approach others have suggested, and which Navarro appeared to hint at: offering short-term relief for Canada and Mexico, while continuing to use the tariff threat as NAFTA leverage.

Weekes offers two bits of advice to the Canadians.

"We have not achieved the progress we expected", he said. "Especially if the USA is no longer going to be a reliable supplier". Besides attacking United States products, the European Union is also in discussions about challenging the issue at the WTO and imposing its own tariffs if the USA move leads to a flood into Europe of dislocated steel and aluminium. And he would ignore the Economics 101 lectures about tariffs being mutually destructive.

Sen. Lamar Alexander, R-Tenn., said Trump had listened to him and others who disagree with the direction of the trade policies. "But, we should be able to overcome it and move forward".

At play is the most immediate of the EU's proposed three-pronged response to the Trump tariffs.

"We're not looking to get into trade wars". "Hitting China and Canada with the same tariff doesn't penalize China relative to anyone else", says Dan Ikenson of the Cato Institute. Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed. He's a veteran trade lawyer, a pro in the field. Instead, industry related stocks diverged Tuesday.

Mexico Vows US Steel Tariff Retaliation