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Mnuchin: Trump may exempt more countries

12 Mars 2018

Seko said he told Lighthizer of Japan's concerns that the tariffs could take a toll on the system of multilateral trade and disrupt the world's steel and aluminum markets.

"This has been an assault on our country", he said. And that's the ongoing threat to and living standards.

"If there is a violation, then we will seek consultations. We want to get as much clarity as possible." and that the European Union is "an ally, not a threat" to the US.

"I'll have a right to go up or down depending on the country, and I'll have a right to drop out countries or add countries", Trump said Thursday. "Steel is back, and aluminum is back".

They would rather see the tariffs imposed just on certain countries that are dumping exports.

Trump's administration has faced growing opposition to the tariffs from prominent congressional Republicans and business officials anxious about their potential impact on the economy.

Dr Fox said the policy championed by Mr Trump was "the wrong way" to tackle the problem of cheap steel being dumped on the U.S. market. But did hint on Twitter earlier this week that he would reconsider tariffs on Canada and Mexico if a "new & fair NAFTA agreement" is signed.

Spoke to PM @TurnbullMalcolm of Australia.

The South Korean government on Friday slammed the U.S. government's decision to impose new tariffs on steel and aluminium imports and said that it was considering protesting against the measure at the World Trade Organisation (WTO). Our industries have been targeted for years and years. The Trump administration may have already answered the second.

"Trade wars are not won, they are only lost", he said in a statement.

"Tariffs will negatively impact Washington state companies and consumers alike by driving up prices of goods and inviting retaliation against Washington state exports and investment", says Lori Otto Punke, President of WCIT.

Trump's decision to impose tariffs on imports of steel and aluminum has riled markets and prompted backlash from United States trading partners, including the European Union.

He also said he expects other countries affected by Trump's protectionist trade policies to file disputes with the World Trade Organization.

Currencies are vehicles of both speculation and global trade and, therefore, the foreign exchange market has already become the place to express unhappiness with Trump's plans.

Trump said the tariffs - which will come into effect after 15 days - will not initially apply to Canada and Mexico, and that close partners on security and trade could negotiate exemptions.

The loss of exports to the US, combined with an expected massive import surge in the European Union, could cost tens of thousands of jobs in the European Union steel industry and related sectors.

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"I was very pleased the President was able to confirm he would not have to impose tariffs on Australian steel and aluminium", he said.

Sen. Jeff Flake, R-Arizona, has also announced plans to introduce legislation nullifying Trump's tariffs.

The announcement comes amid a last-minute lobbying effort to blunt the impact of tariffs. "It meant in practice that in the USA they lost thousands and thousands of jobs", Katainen said.

But EU leaders, most of whom are also North Atlantic Treaty Organisation allies, say the argument is illegitimate because even during crisis they could still be expected to be reliable sources of the materials.

Stating that he wants a lot of steel coming to the US, Trump asserted that he wants it to be "fair".

Photo The Australian golfer Greg Norman, center, at the White House last month. Mr.

"Tariffs won't start a trade war, there's 435 of them in place today to fight trade cheaters".

"We will work to exclude Brazil from this measure", Acting Trade Minister Marcos Jorge told Reuters after meeting U.S. Commerce Secretary Wilbur Ross. The White House has not yet clarified the tweet.

Many economists and business owners question the Trump administration's argument that foreign-made steel and aluminum - some of which goes into American-made cars, kitchen appliances and beer cans - is a risk to national security.

Mnuchin: Trump may exempt more countries