Trump says 'not backing down' on steel tariffs

US President Donald Trump speaks on steel and aluminum tariffs during a meeting with industry leaders in the Cabinet Room of the White House

Moreover, the research didn't take into account any potential retaliation against USA exports, signalling the real impacts are likely to be much larger. When the 28-nation European Union said it would retaliate against US products, Trump threatened to increase tariffs on European cars. The latest round of a almost yearlong renegotiation effort is coming to an end this week in Mexico City. Looming over the meeting were a series of tweets fired off by Trump earlier in the morning calling the agreement "a bad deal for U.S.A". Knowing the USA ultimately has as much or more to lose, Canada is unlikely to be bullied into making serious concessions at the NAFTA table to avoid Trump's tariffs. Harley already is being hit by a deepening slump in United States motorcycle demand, which has spurred job cuts and a plant closure at the Milwaukee-based company.

US President Donald Trump on Monday appeared to suggest that Canada and Mexico could win exemptions to his planned sweeping tariffs on steel and aluminium if the two countries sign a new NAFTA trade deal and take other steps.

"Hitting out at Mexico, the US President tweeted, ".treat our farmers much better.

“Highly restrictive. Mexico must do much more on stopping drugs from pouring into the US. "Millions of people addicted and dying", he said. A formal announcement is expected this week or next.

But union leaders and Rust Belt Democratic lawmakers like the idea of tariffs, along with Commerce Secretary Wilbur Ross and White House Trade Advisor Peter Navarro.

He plans to introduce 25% tariffs on steel imports and 10% tariffs on aluminium imports.

Trump Blocks Qualcomm Sale To Foreign Company For Security Reasons
The Mosaic Company (MOS) have shown a high EPS growth of -25.80% in the last 5 years and has earnings rose of 17.90% yoy. The disclosure for this sale can be found here. "(QCOM)" was published by Week Herald and is owned by of Week Herald.

If Juncker's threats lead to actual tariff retaliation, we are worse off than with Trump's tariffs alone.

Republicans and conservative groups have come out strong against President Donald Trump's proposed new tariffs.

For Trump, it's more about a big applause line at his election rallies.

Other countries have already promised to respond to the new tariffs with import taxes of their own. Much of the aluminum used in the USA comes from Canada.

And more than five jobs would be lost for every one gained under the tariffs, according to the Washington, D.C. -based economic consulting firm.

Kevin Brady, R-Texas, chairman of the House Ways and Means Committee, said the tariff issue would be "front and center" in the NAFTA haggling.

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