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Steel tariffs: Canada exempt for now

09 March 2018

With the United States, it would have represented 40 per cent.

The President has been explicit in saying that if he gets the deal he wants on NAFTA then Canada and Mexico will be spared the tariffs.

"Our industries have been targeted for years and years by unfair foreign trading practices", Trump said at the televised signing ceremony, "And that's going to stop". Janesville Republican House Speaker Paul Ryan has made it clear that he is not in support of the President's move.

"America will remain open to modifying or removing the tariffs for individual nations, as long as we can agree on a way to ensure that their products no longer threaten our security", he stated.

The president linked defence spending to trade, and said the United States "subsidised many countries" in the military.

Trump confirms there will be exemptions on his new steel tariffs for some countries, and singles out Australia as a likely beneficiary.

Under the proposed tariffs, exporting steel would become 25 percent more expensive and aluminium would become 10 percent more expensive, stifling competition and putting hundreds of Australian jobs at risk.

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Australia is believed to have been singled out after business leaders and politicians strongly lobbied the U.S. administration to exempt Australian steel and aluminium from the tariffs. One European Union official even said the EU would target goods from areas governed by Trump's Republican Party.

On Wednesday, more than 100 Republicans signed a letter to Mr. Trump, imploring him to hold off on the tariffs.

"We will be giving a very powerful signal", he said at a news conference after giving a joint statement with other trade ministers.

Louisiana, Connecticut, and Missouri all seem poised to be hit especially hard if the new tariffs take effect.

"This is a great opportunity for us to experience growth, an opportunity for the company, which our owner Barry Zekelman has been gracious enough to share with all of his employees across all the facilities", said VP Zekelman's Vice President Tony Frabotta, .

The tariffs announced today appear to soften what Mr Trump billed last week as a global, "no-exceptions" move to protect the two industries under a 1962 national security trade law.

With the tariffs chiefly aimed at the dumping of Chinese steel into the United States market, Trump confirmed Canada and Mexico would be exempt while the North American Free Trade Agreement is under renegotiation.

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People briefed on the plans ahead of the announcement said all countries affected by the tariffs would be invited to negotiate with the administration to be exempted from the tariffs if they can address the threat their exports pose to USA manufacturers.

Ernst agreed there is a need to address those trade deficits but again warned President Trump to use caution. There is also the possibility of global retaliation.

The president's top economic adviser Gary Cohn, a supporter of free trade, resigned on Tuesday.

More than 100 House Republicans wrote Trump on Wednesday, asking him to reconsider "the idea of broad tariffs to avoid unintended negative consequences" to the US economy and workers.

"I think you should focus and tailor actions against the root cause of the problem and that is the overcapacity in China", said Johnson. While I pride myself on being a strong supporter of free trade, I have always supported the idea of fair trade - the notion that America has the right to impose tariffs or restrict access to our markets the same way a competitor does to us.

Details of the plan came from a briefing by administration officials ahead of Trump's speech. Chuck Schumer, D-N.Y., the minority leader, said on the floor.

"Don't swing blindly and wildly at our foe, China", Schumer said.

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Steel tariffs: Canada exempt for now