Trump to Meet Metal Workers as Aides Ready Tariff Rollout

This time, China can fight back against tariffs

"We're going to be very fair, we're going to be very flexible but we're going to protect the American worker as I said I would do in my campaign", Trump said.

In an announcement at the White House, Mr Trump also said Canada and Mexico will not initially be included, and that he was still working through which other countries may be excluded.

Earlier in the day he made strong hints that Australia would be given special consideration.

More broadly, Trump threw the door open to further exclusions for countries and niche products, raising questions about whether the tariffs will have the intended effect of shoring up the domestic steel and aluminum industry to protect US national security.

"We're negotiating with Mexico, we're negotiating with Canada".

"We're on the verge of a painful and stupid trade war, and that's bad", he added.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will reduce tariffs in countries that together amount to more than 13 per cent of the global economy - a total of $13 trillion in gross domestic product. "They charge us 50, we charge them 50".

Trump kept Canada and Mexico as potential tariff targets because that served USA interests in winning concessions in ongoing NAFTA negotiations. More importantly, retaliatory steps by other nations may trigger a "trade war" though Trump has declared an "easy win" for him. Both come into effect in 15 days.

Australia's trade minister said he had preliminary discussions with the USA trade representative, Robert Lighthizer.

As markets fell on news that Wall Street favorite Gary Cohn, Trump's top economic adviser, had resigned from the White House in protest at Trump's trade decision, Ross tried to calm fears.

The Ministry of Commerce said in a statement Friday that China will take "strong measures' to protect its own interests and warned the US government's actions will "seriously shake" the global trade order". Labor backed that view on Monday.

"Significant damage in South Korea's steel exports to the United States seems unavoidable", said Mr Paik's statement.

The TPP countries are Australia, Brunei, Chile, New Zealand, Peru, Singapore, Vietnam, Japan, Malaysia, Canada and Mexico. He also pointed out, according to a source, that the tough trade talk will likely have negative effects on the ongoing NAFTA negotiations.

The deal had been on life support after the U.S. withdrawal but was resuscitated in January after lobbying from Japan and Australia.

United States Steel Corp. announced on Wednesday that it would fire up its blast furnace in IL and call back 500 workers, Wall Street Journal reported.

"This move will harm the global steel industry, and seriously hurt consumers' interests", said the statement. It gave no indication whether Beijing might make good on threats to retaliate.

But the Turnbull government insists the changes aren't necessary. Those talks could result in the tariff being lifted, the order said.

Officials from Canada and Mexico, however, said they will not be bullied into accepting a Nafta deal that could disadvantage their countries. "Australia rarely imposes anti-dumping penalties in excess of 30%", he said.



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