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Author Topic: Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU  (Read 1756 times)

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Offline SirLinksALot

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Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU
« on: March 26, 2018, 07:34:36 pm »
SOURCE: CNS NEWS

URL: https://www.cnsnews.com/news/article/melanie-arter/trump-suspends-steel-aluminum-tariffs-six-countries-and-eu

by Melanie Arter


President Donald Trump on Thursday authorized the modification of tariffs on  foreign steel and aluminum for six countries and the European Union.

The White House announced that Trump is suspending tariffs for those countries before they take effect. The suspensions are “based on factors including ongoing discussions regarding measures to reduce global excess capacity in steel and aluminum production by addressing its root causes.”

“The tariffs on steel and aluminum imports from the following countries are suspended until May 1, 2018, pending discussions of satisfactory long-term alternative means to address the threatened impairment to U.S. national security: Argentina, Australia, Brazil, Canada, Mexico, the member countries of the European Union, and South Korea,” the White House announced.

Trump will decide by May 1 whether to continue to exempt those countries from tariffs.

“The Administration will closely monitor imports of steel and aluminum imports from exempted countries, and the United States Trade Representative, in consultation with the Secretary of Commerce and the Director of the National Economic Council, may advise the President to impose quotas as appropriate. Further action by the President would be needed to implement any quota the President might decide to adopt,” the White House said.

As CNSNews.com previously reported, Trump imposed a 25 percent tariff on foreign steel and a 10 percent tariff on foreign aluminum, saying American industries have been targeted for decades by unfair foreign trade practices.

(EXCERPT) CLICK ABOVE LINK FOR THE REST....
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Offline SirLinksALot

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Re: Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU
« Reply #1 on: March 26, 2018, 07:34:48 pm »
I see Larry Kudlow's hand in this...
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Offline WingNot

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Re: Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU
« Reply #2 on: March 26, 2018, 07:35:43 pm »
When is a tariff not a tariff?
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Offline thackney

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Re: Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU
« Reply #3 on: March 26, 2018, 07:41:32 pm »
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Offline edpc

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Re: Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU
« Reply #4 on: March 26, 2018, 07:46:48 pm »
With all those exemptions/suspensions, who is left?


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Re: Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU
« Reply #5 on: March 26, 2018, 07:48:34 pm »
Quote from: edpc on March 26, 2018, 07:46:48 pm
With all those exemptions/suspensions, who is left?


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Offline edpc

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Re: Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU
« Reply #6 on: March 26, 2018, 07:51:05 pm »
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Offline thackney

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Re: Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU
« Reply #7 on: March 26, 2018, 07:59:57 pm »
Quote from: edpc on March 26, 2018, 07:46:48 pm
With all those exemptions/suspensions, who is left?

Russia, Turkey, Japan and India?

Modified, I forgot China as a significant import source.
« Last Edit: March 26, 2018, 08:03:40 pm by thackney »
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Offline thackney

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Re: Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU
« Reply #8 on: March 26, 2018, 08:02:28 pm »
Better Aluminum and Steel trade charts





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Offline endicom

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Re: Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU
« Reply #9 on: March 26, 2018, 08:23:41 pm »
Quote from: thackney on March 26, 2018, 07:41:32 pm



Canadian steel producers are foreign owned.

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Offline thackney

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Re: Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU
« Reply #10 on: March 26, 2018, 08:32:37 pm »
Quote from: endicom on March 26, 2018, 08:23:41 pm

Canadian steel producers are foreign owned.

Not all of them I believe, some owned by US companies.  All but Essar Steel Algoma I believe are countries also given the exception.

https://en.wikipedia.org/wiki/Category:Steel_companies_of_Canada
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Offline endicom

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Re: Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU
« Reply #11 on: March 26, 2018, 08:40:17 pm »
Quote from: thackney on March 26, 2018, 08:32:37 pm
Not all of them I believe, some owned by US companies.  All but Essar Steel Algoma I believe are countries also given the exception.

https://en.wikipedia.org/wiki/Category:Steel_companies_of_Canada


Mittal is Indian.

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Offline Frank Cannon

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Re: Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU
« Reply #12 on: March 26, 2018, 08:42:23 pm »
Looks like this tariff war was a win.
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Offline Suppressed

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Re: Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU
« Reply #13 on: March 26, 2018, 09:03:05 pm »
Quote from: endicom on March 26, 2018, 08:40:17 pm

Mittal is Indian.

Nope.  EU.

https://en.wikipedia.org/wiki/ArcelorMittal
Quote
ArcelorMittal S.A. (French pronunciation: ​[aʁsÉ™lɔʁmiˈtal]) is a German-based multinational steel manufacturing corporation headquartered in Luxemburg. It was formed in 2006 from the takeover and merger of Arcelor by Indian owned Mittal Steel.  ArcelorMittal is the world's largest steel producer, with an annual crude steel production of 98.1 million tons as of 2014.  It is ranked 123 in the 2017 Fortune Global 500 ranking of the world's biggest corporations.
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Offline endicom

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Re: Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU
« Reply #14 on: March 27, 2018, 01:40:49 am »
Quote from: Suppressed on March 26, 2018, 09:03:05 pm
Nope.  EU.

https://en.wikipedia.org/wiki/ArcelorMittal


Based in Luxembourg after buying up EU steel companies. Luxembourg probably offers tax advantages.

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