Japan trade minister calls for calm heads over United States tariffs

Japan trade minister calls for calm heads over United States tariffs

The Trump administration's rollout of new tariffs on steel and aluminum imports has left countries confused about whether they can win exemptions, but Australia seems to have accomplished it with a phone call from the country's prime minister to President Trump. He has tried to use the tariffs as leverage in ongoing talks to revise the North American Free Trade Agreement, suggesting Canada and Mexico might be exempted from tariffs if they offer more favourable terms under NAFTA.

The aide expressed frustration at the way the tariffs have been characterized, referring repeatedly to the "fake news", the lobbyists and the "swamp things" that he said exaggerated the ill effects while fighting the measures.

The European Commission, which coordinates trade policy for the 28-nation EU, the world's biggest trading bloc, has said it is ready to impose safeguards, tariffs or quotas to protect its own steel and aluminum industries from products diverted to Europe because of the USA measures. And the remedies should be reviewed and reconsidered "on a short-term basis" to determine whether they are helping or hurting USA workers and consumers.

There appeared some doubt between the two countries over Trump's choice of words.

Given the importance of trade to agriculture, congressional members from Nebraska and western Iowa - all Republicans - have pushed Trump to reconsider in letters, public statements and, in some cases, White House meetings.

"The China Iron & Steel Association (CISA) appeals for the Chinese government to take resolute measures against imports of some USA products including stainless steel, galvanized sheet, seamless pipe, coal, agriculture products and electronic products", the industry body said in a statement on its website.

The President added that he was fulfilling a campaign promise by imposing the tariffs, asserting that support from steelworkers was part of the reason why he won the presidency.

"The American aluminum and steel industry has been ravaged by aggressive foreign trade practices".

USA trading partners were on Friday given a 15 day window to negotiate exemptions to the tariffs, due to come into effect in a fortnight.

Following the close of the seventh round of negotiations last week in Mexico, U.S. Trade Representative Robert Lighthizer said the U.S. wants to get a deal done in the next four to six weeks.

"So our view is yes we can deal multilaterally with the overproduction of steel, but this is the wrong way to go about it".

Speaking in the White House with a group of workers, Mr Trump confirmed the levy on steel imports and a 10% tariff on aluminium in response to an "assault on our country" from cheap overseas metal.

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"To my ears it sounded very protectionist: economy without competition", Katainen told reporters.

Both House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell have pushed back. Sen.

Economists say the region's economic growth potential could be hit by a trade war.

Complicating matters, Trump indicated that the sparing of Australia was linked to an unspecified "security agreement" outside of trade policy.

Sasse last week gave a number of network news interviews on the subject, and he said he has counseled the president on the issue. "There are unquestionably bad trade practices by nations like China, but the better approach is targeted enforcement against those practices".

Japan has decried the "grave impact" the Trump measures could have on the world economy.

Republican Senator Jeff Flake has already introduced legislation to nullify the tariffs.

"That was a very good and productive discussion with the president", Turnbull said.

"Congress can not be complicit as the administration courts economic disaster", the Arizona senator added.

The Eurofer director-general's remarks came as European Union warned it would take matters into its own hands if Mr Trump did not include it as an ally and the bloc from the import tariff list.

While Mr Gardiner addressed Dr Fox, saying: "For an entire week you have failed to come to the House of Commons to tell Parliament what representations you have made to the United States or the European Union to protect UK steel producers. Why?"