Housewares industry unsure of future impact from steel, aluminum tariffs


Donald Trump exempted Canada and Mexico Wednesday from punishing new tariffs on steel and aluminum into the U.S.

But they appeared to win no quick concessions.

While no further bilateral meetings are planned at the moment, contacts are ongoing as the European Union is racing against time to secure an exemption before the aluminum and steel tariffs are enacted in less than two weeks.

Along with a huge range of steel products, the European Union 's hit list of flagship American products lined up for counter measures includes peanut butter, bourbon whiskey and denim jeans.

US trade representative Robert Lighthizer said last week the pace of the talks is too slow and the USA wants them wrapped up in the next four to six weeks.

"As a close security and trade partner of the USA, the European Union must be excluded from the announced measures, " Malmström said.

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Lighthizer did not make any immediate comment after the meetings.

Mr. Trump wants to use trade policy to advance America's national and economic security priorities. Not fair or sustainable.

Canadian officials and businesses breathed a sigh of relief last week when Trump confirmed that Canada and Mexico would be exempt from the new tariffs - at least for now.

European Commission Vice-President for Jobs, Growth, Investment and Competitiveness, Jyrki Katainen also commented on the potential need for the EU to impose its own tariffs on U.S. products as a counter measure.

The EU's trade commissioner has said the bloc "will stand up to the bullies" over protectionism as tensions continue over United States tariffs on imported steel and aluminium imposed by President Trump.

United States industries processing steel and aluminium have also criticised the tariffs as landing them with higher costs. Big Deficit. If not, we Tax Cars etc.

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Trump drew on rarely used national security grounds to place a 25 percent tax on steel imports and 10 percent tax on imported aluminum. "Do you know quite how much USA steel Canada buys?" said another person familiar with Canada's lobbying effort.

The Japanese government plans to explain to the US side that restricting imports of high-quality Japanese steel could negatively affect USA industries and employment because these products are used in oil field development and other industries in the United States.

He said other countries could be spared the tariffs if they can convince the USA government that their steel and aluminum exports don't threaten American industry. Ultimately, we will all be losers in a global trade war that will particularly harm the most vulnerable in all societies. While the United States once pioneered the world's steel industry, it is now the largest importer of steel - importing almost four times as much as its exports.

New Zealand exports a relatively small amount of both steel and aluminium to the United States which would still have attracted the tariffs. USA steel production has fallen by 20 percent over the past decade, with employment declining by roughly 50,000 jobs since 2000.

Mr. Trump threatened to tax European-made cars if they retaliated against the aluminum and steel tariffs with their own taxes on USA imports like Harley Davidson motorcycles, bourbon and blue jeans.

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