Daily Management Review

The US is considering an attack on imported aluminum


04/27/2017


The Minister of Commerce in Donald Trump’s administration Wilbur Ross said that his department will begin an investigation of aluminum imports in the United States. "The president will sign a memorandum on assessing whether there is a threat to US national security from aluminum imports," Mr. Ross said at a briefing in the White House.



commerce.gov
commerce.gov
According to The Wall Street Journal, the investigation’s results can have a big impact on how the price of aluminum will change in the world market, and whether additional duties on its delivery will be imposed. The largest exporters of this metal in the US, Canada and China, may suffer the most.

According to the Minister of Trade, it is about the same proceedings that the Ministry of Trade, as directed by the White House, initiated earlier on the supply of steel to the US, CNBC reports.

On March 31, Wilbur Ross said that the United States was in a state of commercial war. On the same day, US President Donald Trump signed a decree on foreign trade. The officials are ordered to prepared a comprehensive report on those trade partners of the United States, "in trade with which there was a significant deficit in 2016". Earlier, in January, the administration announced that it was going to review all American free trade agreements.

The day after announcement of plans for introduction of tariffs for Canadian timber, US Secretary of Commerce Wilbur Ross said that the Trump administration could also take measures to protect America's aluminum, semiconductor and shipbuilding industry as part of a new aggressive trade policy.

In an extensive interview with The Wall Street Journal, Ross said that he intends to intensify free trade negotiations with the European Union, Britain and Japan, and consider a possibility of resuming bilateral trade deals with South Korea and China.

Ross said that the revision of the North American Free Trade Agreement (NAFTA) with Canada and Mexico is a priority, and that he hopes to completely rewrite the treaty by the end of the year.

Ross also said that the US could intervene to support Westinghouse Electric, a Japanese Toshiba factory that built nuclear power plants, which filed for bankruptcy in March, so that the company did not fall into Chinese buyers’ hands. According to Ross, possession of nuclear potential is a matter of national security.

In general, Ross softened President Donald Trump’s rather harsh rhetoric regarding trade with China, as the meeting between Xi Jinping and Trump at the beginning of the month normalized the situation with China's trade surplus with the United States.

source: wsj.com, cnbc.com






Science & Technology

Researchers See 'Wannacry' Link As Another Cyber Attack Sweeps Globe

AEON and IBM to create a blockchain platform

Toyota & Cartivator Are Building Flying Cars To Light Up The Olympic Flame Of 2020

Stock trading computers are not a future anymore

Temper Technology With Humanity - Apple's Cook Tells MIT Graduates

As Spying And Crime Tools Mix, Blame Game For Cyber Attacks Grows Murkier

Retailers Could Transform The Market Scenario Into Smart Shopping Experience For The Consumers With The Cloud

A Way To Unlock Wannacry Without Ransom Found By French Researchers

China to introduce face recognition payment system

Clues To Ransomware Worm's Lingering Risks Found By Security Experts

World Politics

World & Politics

Trump to speak for America's dominance in the energy sector

U.S. Official Says Russians Targeted 21 Election Systems

The Britain’s Prime Minister To Bring Down Corporate Tax To Draw More Investments In The Country

Record 65.6 million people were displaced in 2016

Are millionaires preparing for an apocalypse?

EU says goodbye to mobile roaming charges

Denmark loses interest to electric cars

Global Airlines Conference Agenda To Accord Importance To Fresh Safety Concerns