Trump Unfazed By EU Tariff Threat - Bring On The Trade War!

Randal Sanchez
March 5, 2018

"We will not sit idly while our industry is hit with unfair measures that put thousands of European jobs at risk", he said. As Bloomberg reports, Anheuser-Busch InBev CFO Felipe Dutra said on an analyst call Thursday that "2 million jobs depend on America's beer industry". "This is now going to give us an opportunity to potentially reopen facilities and grow new business", Frabotta said.

We will now impose tariffs on motorcycles, Harley Davidson, on blue jeans, Levis, on Bourbon.

That's his motivation for announcing that the US will impose tariffs of 25 percent on steel imports and 10 percent on aluminum imports.

World leaders, including prominent trade organizations and American allies, have lashed out at Trump saying that he is igniting a trade war.

There were already reports of other nations considering retaliatory trade measures; Canadian Prime Minister Justin Trudeau labeled the US plan "absolutely unacceptable".

On Friday, Trump tweeted that trade wars are good, and easy to win. "When we are down $100 billion with a certain country and they get cute, don't trade anymore - we win big". They suggested other countries will take action to punish the United States or use national security as a reason to set their own trade rules.

China's Commerce Ministry said it was seriously concerned about Trump's plan.

"There hasn't really been a mass panic or anything like that", said Gary Howe, president of United Steelworkers Local 1005, based in Hamilton, Ont.

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"The president made clear these would be across-the-board tariffs with no exclusions", the official said.

"These tariffs are very likely to accelerate a tit-for-tat approach on trade, putting US agricultural exports in the crosshairs, said Brian Kuehl, Executive Director for the group Farmers for Free Trade".

Canada also has said it will retaliate for any tariffs on steel and aluminium. "That is in no one's interest".

The stock prices of U.S. steel and aluminum makers rose after Mr Trump announced hefty tariffs on metal imports to protect them from foreign competition.

He said that in any case, New Zealand does not subsidise its steel industry so any tariff based on government subsidies would not apply to exports.

Trump frequently singled out China for criticism during his election campaign, saying the trade relationship was "the greatest theft in the history of the world" and comparing it to "rape".

The combative posts follow Thursday's assertion on Twitter that USA steel and aluminium industries had been "decimated" by trade policies.

Canada has the largest share of steel imports to the United States at 16%, according to data from the Department of Commerce. He said "Another Republican Congressman Pete Olson expressed concern over Trump's decision on proposed tariffs on steel and aluminium imports".

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