Daily Management Review

U.S Fiends Make Beeline To Get Relief From Trump Tariff On Steel And Aluminum


03/09/2018




U.S Fiends Make Beeline To Get Relief From Trump Tariff On Steel And Aluminum
Even while Chinese steel and aluminum producers gave a call to the Chinese government to retaliate the imposition of tariff on the import of the two metals into the U.S. by the Trump administration, exemptions from the tariffs were sought by multiple countries including Japan, South Korea, Australia and Europe.
 
U.S. President Donald Trump had put forward the issue of threat to national security as the pretext for the imposition of the tariffs, both Japan and the European Union ruled out any such threat from them exporting the metals to the U.S. Trump had however been facing opposition to the tariffs from within the Republican Party itself.
 
“We are an ally, not a threat,” European Commission Vice President Jyrki Katainen said.
 
A tit-for-tat tariff imposition on U.S. coal was suggested to the Chinese authorities by the country’s’ metals industry in what is their stiffest counter threat to Trump’s tariff. Coal is very close at heart for Trump and his political base.   
 
Describing the low priced imported steel and aluminum from China as “an assault on our country” the tariffs are designed primarily to counter the Chinese imports. U.S.  levied a 25 per cent tariff on steel and a 10 per cent on aluminum following the signing of an executive order to that effect by Trump on Thursday.
 
After exempting Mexico and Canada from the tariff- scheduled to be put into force in the next 15 days, Trump called for the “real friends” of the United States to appeal for an exemption from the tariffs.
 
Brazil and Argentina have said that they wanted o to be included in the exempt list. Brazil is the second largest steel supplier to the U.S. after Canada.
 
Japan too put in its case for exemption. It is the largest economic and military ally of the U.S in Asia. There was no threat to the national security of U.S. from Japan’s steel and aluminum exports, said the country’s Chief Cabinet Secretary Yoshihide Suga at a news conference.
 
On the contrary, a large number of jobs is generated in the U.S. by their exports, said Suga. Concerns has also been expressed by the steel industry of Japan.
 
The European Union was not also not far behind on the issue. “Europe is certainly not a threat to American internal security so we expect to be excluded,” European trade Commissioner Cecilia Malmstrom said in Brussels.
 
Retaliatory measures could be taken within 90 days and the EU was all set to file a complaint with the World Trade Organization, Malmstrom told reporters. Whetherthe Eu would be part of fthe tariff regime would be asked of the U.S. Trade Representative Robert Lighthizer by her on Saturday when they are scheduled to meet in Brussels.
 
German Chancellor Angela Merkel supported Cecilia Malmstrom’s comments. There was drop in share prices of European steelmakers following the news of the tariffs.
 
(Source:www.reuters.com)






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