Australia expects waiver of new U.S. tariffs after Trump-Turnbull phone call

  • Australia expects waiver of new U.S. tariffs after Trump-Turnbull phone call

Australia expects waiver of new U.S. tariffs after Trump-Turnbull phone call

One of the hysterical objections from those who oppose President Trump's proposed tariffs on imported steel and aluminum is that he is going to start a trade war, because other countries will retaliate with tariffs of their own.

"The problem is when you say, "All right, let's have tariffs, but let's couple that with uncertainty" - that's nearly worse", Senator Jeff Flake, an Arizona Republican pushing legislation to block the tariffs, said Sunday on NBC's "Meet the Press".

"We're on the verge of a painful and stupid trade war, and that's bad", Sasse said. Meanwhile, the European Union cried so loud because it worries that steel that might've gone to the US will now find its way to Europe, pressuring local steelmakers even further.

"There was speculation in the media about actions taken with other countries to do with these U.S. steel and aluminium tariffs", Turnbull told reporters in Port Kembla.

President Trump's negotiating tactics often show him throwing out an idea, watching his critics set their hair on fire, and then finding common ground with a less severe approach.

Opposition trade and investment spokesman Jason Clare praised the government for securing the exemption, but was still wary of what tariffs on other USA trade nations might mean for Australian jobs.

The European Union has threatened to hit big-name U.S. brands such as Harley Davidson motorbikes and Levi's jeans with import duties. There's a lot of ways to renegotiate to make this more of a free-trade agreement. If the U.S. president does pursue this latest agenda, it will likely jumpstart a trade war that no one can win.

The EU is also readying a list of countermeasures targeting about $3.5 billion in annual trade. North American Free Trade Agreement negotiations, which are already progressing slowly, could easily break down.

Trump promised to champion forgotten Americans, but imposing a 25 percent tariff on steel and a 10 percent tariff on aluminum will hurt more of the forgotten Americans than it helps.

US President Donald Trump on Friday said he has spoken with Australian Prime Minister Malcolm Turnbull and that they are working on an agreement so Australia will not be subject to US tariffs on steel and aluminum.

"As long as both sides have the intention of creating a win-win solution, respect the issues they are facing, and proactively and constructively resolve them, this will push the U.S".

For his part, Mexican Economic Minister Ildefonso Guajardo said the pace of talks should increase but made it clear that Mexico's position is that "NAFTA is in the best interest of all three nations". The latest in a series of Trump's "America First" initiatives, the decision has met swift, strong backlash from major trading nations, including Washington's security allies. Cooler American heads will show him that the USA economy would be hurt big-time by such a stupid move. "And just recently we've seen how it is used to threaten and intimidate us". "It allows us to be more competitive on a global playing field".

Ng called on USA media, economists and Trump's trade advisers to take their responsibilities to deliver a simple truth to the president and public that the current officially reported U.S. United Steelworkers President Leo Gerard had voiced opposition to tariffs on Canada, whose steel and aluminum industries are fully integrated with those of the United States and where workers are represented by the Pittsburgh-based union. "I do think the possibility of NAFTA partners walking away from the table mattered quite a bit", the lobbyist said.