How big of an economic threat are Trump's steel and aluminum tariffs?

13 March, 2018, 03:47 | Author: Cecil Buchanan
  • 10:45am

Trudeau said Canada had a lot more work to do and would press Washington to ensure the exemptions were permanent. Politico quotes the Mexican Economy Ministry in a release that says, "The process of negotiations for the NAFTA modernization continues on a course independent of this or any other internal political measure that the US government takes".

"Millions of jobs on both sides of the border depend on continued smooth flow of trades".

He said that the United Kingdom would be working with the European Union to formulate a response which could include immediate duties on the USA, measures to safeguard the EU market from the displacing effect of U.S. tariffs and a dispute at the World Trade Organisation.

Michael Dolega, economist at TD Economics estimates that about 5,000 to 10,000 jobs could be added to steel and aluminum production in the USA, but there could also be a loss of 25,000 to 50,000 jobs in metal-intensive sectors like machinery and transport equipment. However, the exemption is not "open-ended" and will depend upon changes are made to NAFTA that satisfy Trump, an administration official told CNBC last week.

Data last week showed that the US trade deficit had jumped to an over nine-year high in January, with the country's shortfall with China widening sharply. Based on the fact that there are few parts necessary for the upkeep of a vehicle that do not contain significant amounts of steel and aluminum, this action will have a significant negative impact throughout the supply chain, including many medium and small businesses and their employees that comprise the auto care industry.

Trudeau said he's willing to work with the US on a stronger solution.

The US president's comment came amid yesterday's talks between representatives of the European Union and the United States in Brussels, during which no compromise was reached.

Ex - CM in illegal tax racket in Nagaland
The NIA probe into government workers and underground funding is a sensitive subject in Nagaland. The agency has summoned Zeliang and asked him to appear in the national capital on March 13.

Sri Lankan President in talks with Japanese investors
President Sirisena is scheduled to have an Imperial Audience with Emperor Akihito and Empress Michiko tomorrow (March 13). President Sirisena is also expected to participate in a tour of observation of a modern waste management centre.

TDP protest in Parliament premises over special status to AP
The only Congress member protesting in the Well was K V P Ramachandra Rao from Andhra Pradesh . I am allowing every issue to be raised and find no reason to disturb the proceedings.

Prime Minister Justin Trudeau is kicking off a tour of aluminum and steel factories today with a visit to Quebec's Saguenay region.

Trump signed tariffs of 25 percent on steel and 10 percent on aluminum imports on Thursday.

"We know well that with this president there are moments of unpredictability and I think it's important to show that we are there to reassure the workers", Trudeau told public broadcaster Radio Canada earlier Monday.

Labor finance spokesman Jim Chalmers says steel destined for the U.S. from other countries will now be dumped below cost in Australia.

Trump tweeted Monday that US "Secretary of Commerce Wilbur Ross will be speaking with representatives of the European Union about eliminating the large Tariffs and Barriers they use against the United States of America".

The EU topped the list, followed by Brazil, South Korea, China and then Japan.


  • Judge Greenlights Class Action Over Yahoo Data Breaches

    Judge Greenlights Class Action Over Yahoo Data Breaches

    They say Yahoo's failure to promptly disclose the depth and breadth of the hack created direct financial harm. The other defendants remained at large in Russian Federation .
    Bills ship Tyrod Taylor to Browns

    Bills ship Tyrod Taylor to Browns

    No matter what you think about the idea of taking a running back No. 1 overall, the Browns still need to add a young quarterback. The Browns could move back up to second and trade with the New York Giants , all but assuring them of a quarterback and Barkley.

    De Boer is worst manager in English premier league history - Mourinho

    I say Liverpool because they are an example of a very good team, a good example of an important stadium with a big tradition. I said that before the Liverpool match when many of you were maybe not expecting him to start.
  • 'Dear President Trump': Jerry Brown invites Donald to Fresno

    'Dear President Trump': Jerry Brown invites Donald to Fresno

    Construction for the train began in Fresno in 2015, but that first segment through the Central Valley is not yet fully funded. California has otherwise clashed viciously with the federal government , particularly on immigration issues.

    Russian Aerospace Forces test launch Kinzhal hypersonic missile

    He also called the speech of Putin on the nuclear weapons "disappointing but not unexpected" for the Pentagon. It then affirmed "the launch was successful, the hypersonic missile hit the designated target at the field".
    Bound flight makes emergency landing in Albuquerque after cabin fills with smoke

    Bound flight makes emergency landing in Albuquerque after cabin fills with smoke

    Most passengers on the original flight made it to Dallas' Love Field Monday morning, CBS Dallas Fort-Worth reported . Fire officials in Albuquerque tweeted that two people were injured and taken to a hospital.
  • US House Democrats sign letter urging action against Russian Federation

    US House Democrats sign letter urging action against Russian Federation

    Adam Schiff of California, the committee's senior Democrat and a former federal prosecutor, said in a recent statement. Even while he had stepped aside, Nunes upset Democrats by continuing to issue subpoenas for documents and witnesses.
    The real danger to the United States  economy in Trump's trade policy

    The real danger to the United States economy in Trump's trade policy

    USA steel and aluminum producers - and their counterparts around the world - have been hammered by overproduction by China . Business officials and congressional Republicans have voiced concern about the tariff's impact on their economy.
    Chiefs to part with longtime LB Hali

    Chiefs to part with longtime LB Hali

    Hali is now a free agent and it will be interesting to see if there's a market that develops around the aging pass rusher. Hali didn't record a sack and his release will save Kansas City $7M, but will incur a dead money hit of $1.7M.
  • Met opera fires conductor after sexual misconduct probe

    Met opera fires conductor after sexual misconduct probe

    Mr Levine is one the most high-profile figures in classical music to face claims of sexual misconduct in the wake of the #MeToo movement.
    Finance Minister Arun Jaitley files nomination papers for Rajya Sabha polls

    Finance Minister Arun Jaitley files nomination papers for Rajya Sabha polls

    Rajeev Chandrasekhar and Sameer Urnav will represent Karnataka while Ajay Pratap Singh and Kailash Sonil are from Madhya Pradesh. The maximum number of candidates fielded by the Congress party are in Karnataka, with 3 nominations, namely Dalit poet L.
    Saskatoon police urge public to turn in cocaine after fentanyl deaths

    Saskatoon police urge public to turn in cocaine after fentanyl deaths

    "We're seeing, as of Saturday, it's another thing and you can't trust a drug dealer, that's what it comes down to", Davies said. Over in the United Kingdom , fentanyl has also been linked to a number of deaths, including 18-year-old Robert Fraser from Kent.


Apple and Ito World Strike Bike Sharing Data Deal
But now many people in more than 175 cities have easy access to bike-sharing data just by using the Apple Maps app. However, it does not provide information on a startup that's operating a dock-less bike-sharing service.

Slovak minister quits as PM tries to save government
One of the Italians that Kuciak wrote about had co-owned firms with two Slovaks who went on to work in Fico's office. Critics say Kalinak can not guarantee an independent probe into the February killings of Kuciak and his fiancee.

Trump blocks Broadcom's bid to take over Qualcomm, reports say
Accuvest Advsr reported 103 shares. "(NASDAQ:QCOM)" was reported by StockNewsTimes and is the property of of StockNewsTimes. Guardian Life Insurance Of America holds 0.03% of its portfolio in QUALCOMM Incorporated (NASDAQ:QCOM) for 3,351 shares.

Benue killings: I'm surprised IGP Idris disobeyed my directive
He said: "I feel sad beyond description". "We expect that his coming would finally put an end to unnecessary killings". They must leave no stone unturned to find what is the root cause of this and put a stop to it", Obasanjo said.

Eddie Jones: England boss open to bringing in new attack coach
While Ireland have not been ideal in any of their matches so far, Murray believes they are fixing problems as they go along. We will have to go to another level to beat England.

Animated Musical Comedy Central Park Lands at Apple
It centers on a family of caretakers, who live and work in the NY park and end up saving the park- and the world. Bouchard and Gad will both executive produce with Nora Smith ( Bob's Burgers ) serving as a consultant.

(NASDAQ:DISCA) Stake Increased by Fort LP
River & Mercantile Asset Management Llp acquired 15,100 shares as Discovery Communications Inc ( DISCA)'s stock declined 9.80%. According to their observations and findings, the stock could provide a high EPS of $0.54/share and a low EPS of $0.34/share.

Djokovic suffers 'weird' loss to qualifier at Indian Wells
The contest started on Saturday, although rain halted Federer's march into Round 3 and suspended the match for a day. I just completely lost rhythm, everything. "Just struggled also a bit with the health the last couple of weeks".

Barnett suspended for opening round NCAA Tournament game
Barnett is second on the team in scoring this year and averages 13.7 points per game along with 5.9 rebounds per game. COLUMBIA, Mo . (AP) - Missouri forward Jordan Barnett has been arrested on suspicion of driving while intoxicated.

Ruth Davidson: SNP Government wants row with United Kingdom over Brexit powers
They say the veto is crucial to ensure the smooth running of rules and regulations for trading between different parts of the UK. The UK Government can ignore the vote to refuse consent and is likely to refer the continuity bill to the Supreme Court.