Published: Fri, March 09, 2018
World Media | By Shelia Harmon

US may exclude some countries from trade tariffs

US may exclude some countries from trade tariffs

Cohn told Trump about his decision to resign on Tuesday, but he and the president had been discussing his possible departure for weeks, a White House official said.

White House trade adviser Peter Navarro told Fox Business late last night that Trump would sign the executive order later in the day.

Trump has said that steel products coming into the USA will be subject to a 25 per cent tariff, while aluminium will carry a 10 per cent levy.

The European Union has drawn up a list of U.S. products - from bourbon to Harley Davidson motorbikes - on which to apply tariffs if Trump goes ahead.

There could be more turmoil ahead, with a pending administration report on intellectual property theft expected to hammer China and possibly provoke further tariffs. U.S. Attorney General Jeff Sessions: Ready to fight California over pro-immigrant sanctuary laws White House Press Secretary Sarah Sanders made the announcement during a press briefing Wednesday. "And it's true", Trump said.

"If there's a trade war that means other countries would impose tariffs and that just leads to a decline in the openness in trade and investment that has seen countries like Australia grow so strongly", said Bishop. "They make it nearly impossible for us to do business with them, and yet they send their cars back to the United States", Trump said.

"If we can work something out with Canada and Mexico, they will be exempted", Ross was quoted by NBC News as saying.

"We're writing today to say: we stand with you in taking tough action to keep America safe and our economy strong", Brady said.

Business leaders, meanwhile, continued to sound the alarm about the potential economic fallout from tariffs, with the president and CEO of the U.S. Chamber of Commerce raising the specter of a global trade war.

Wednesday, 107 House Republicans sent Trump a letter urging he "reconsider the idea of broad tariffs to avoid unintended negative consequences" to the economy. She suggested Mexico and Canada may receive some exemptions for "national security" reasons, even though the White House has insisted the tariffs are being imposed in part for the sake of national security.

The chief of the International Monetary Fund, Christine Lagarde, on Wednesday in a European radio interview, warned of a global trade war, predicting the US tariffs could lead to "a drop in growth, a drop in trade, and it will be fearsome".

"We're going to have sensible relations with our allies", he told CNBC, "we're not looking for a trade war".

The comment that Canada and Mexico may be spared in the tariffs plan resulted in key stock indexes and the US dollar paring losses in afternoon trading.

After days of drama and a last-minute diplomatic scramble, the White House is now hinting that the impending tariff announcement might have some form of national-security exception for the U.S.'s neighbours.

The Washington Post reported last week that Trump plans to visit the San Diego area to view the eight, 30-foot-tall border wall prototypes that have been erected in Otay Mesa.

Trump's tariff authority comes from a US law that allows the president wide discretion to apply duties or other restrictions if the Commerce Department has found imports present a threat to national security.

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