China says it's ready for trade war as Trump tariffs loom

The US is the world's largest importer of steel

Image The US is the world's largest importer of steel

Officials would look into the extent of the tariffs and how New Zealand might secure an exemption, Mr Robertson said. During the event at the White House, however, Trump said that the two countries would be indefinitely exempted while negotiations continue regarding the North American Free Trade Agreement.

"If we don't make the deal on NAFTA and if we terminate NAFTA because they're unable to make a deal that's fair for our workers and fair for our farmers. and fair for our manufacturers, then we're going to terminate NAFTA and we'll start all over again or we'll just do it a different way", the president remarked. Trump's announcement that he will impose stiff tariffs on imported steel and aluminum has upended political alliances on Capitol Hill.

If Cohn rejoins the administration, Trump said, "I don't know if I can put him in the same position, though".

He has, however, exempted Canada and Mexico, backtracking from earlier pledges of tariffs on all countries. So which is it?

The New York Times reported United States trade representative Robert Lighthizer will be in charge of deciding which countries benefit from an exemption.

Congressman Adrian Smith (R-NE) released the following statement today after President Donald Trump announced his decision to impose new tariffs on steel and aluminum imports.

Brussels has already drawn up a hitlist of flagship American products to target for countermeasures if its exports are affected by the tariffs including peanut butter, bourbon whiskey and orange juice.

Top trading partners the European Union and Brazil also launched broadsides against the tariffs, which are worth billions of dollars.

Annoy the president, which considering his renowned hypersensitivity is easy, and those tariffs are slapped on Canadian steel and aluminum shipped south of the border.

"Both our industries are severely severely under threat of being weakened, or in the case of aluminum being driven to extinction", the senior administration official told reporters Thursday.

AK Steel worked extensively with the Department of Commerce and members of Congress. Newport even visited the White House to explain "the underlying situation" it faces as the last US producer of "grain-oriented electrical steel". "We work together. We can not possibly be a threat to national security in the USA, so we are counting on being excluded", she said.

Senate Majority Leader Mitch McConnell said he and other senators were "concerned about the scope of the proposed tariffs" and House Speaker Paul Ryan said he disagrees with the decision and "fear [s] its unintended consequences".

"What I have read today is that they are probably considering some exemptions to NAFTA countries. but also they have mentioned the United Kingdom and maybe some other countries", Katainen told reporters.

"Many of the aluminum materials procured by US customers from Japan are hard to obtain or switch (to) from other sources", the industry body said, warning that the import curb could have an adverse impact on the USA industry.

Mr Kituyi said the ripple effect was that producers of bauxite or iron ore will have downward pressures on the value of their commodity, and bigger companies will wind up taking over smaller suppliers.

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