Australia exempted from United States tariffs on steel and aluminium

Australia exempted from United States tariffs on steel and aluminium

White House National Trade Council Director Peter Navarro said national security is the primary reason behind ending the two-month exemption from USA steel and aluminum tariffs for Europe, Canada and Mexico.

"A growing list of tariffs proposed or imposed by our government, as well as the continued uncertainty over the future of Nafta, threatens to undermine the economic progress we have made", Donohue wrote in the memo.

Wick said MA cranberry growers export more than 30 percent of their crop, much of which goes to Europe, Mexico and Canada.

The Trump administration imposed 10 per cent tariffs on Canadian aluminum and 25 per cent tariffs on steel imports Thursday, erupting a trade war as the Canadian government retaliated with its own $16.6-billion in countermeasures.

The Canadian tariffs will be 25 percent on steel and 10 percent on aluminum, and aim to match US penalties on a dollar-for-dollar basis based on export values, according to Foreign Affairs Minister Chrystia Freeland.

The Mexican economy ministry also related the country's displeasure with the new crackdown: "Mexico profoundly regrets and condemns the decision by the United States to impose these tariffs on imports of steel and aluminium from Mexico".

Canadian prime minister Justin Trudeau hit back at the justification, saying: "That Canada could be considered a national security threat to the United States is inconceivable". It did not announce details, but the bloc has previously threatened 25% tariffs on USA products such as motorcycles, denim, cigarettes, cranberry juice and peanut butter.

And the Mexican government said that the U.S. action was not justified, and that it would retaliate with its own comparable penalties on U.S. products including lamps, pork, fruit, cheese and flat steel. At its low, the peso was at its weakest against the dollar in almost 15 months.

The EU has threatened tariffs on Harley-Davidson motorcycles and bourbon, measures aimed at the political bases of US Republican legislators.

EU members have given broad support to a European Commission plan to set duties on 2.8 billion euros ($A4.3.billion) of U.S. exports if Washington ends the tariff exemption.




Now, both of those men have left the White House, and Trump has gravitated instead toward seeking the counsel of trade hardliners like Commerce Secretary Wilbur Ross, senior adviser Peter Navarro, and U.S. Trade Representative Robert Lighthizer.

"If the Government had any doubt as to how 'special" our relationship with the U.S. is to President Trump then these tariffs make it clear that even close allies will not be spared from his America First policies. Now the tariffs on Canada, Europe and Mexico will take effect Friday morning.

Australia has once again sidestepped US President Donald Trump's haphazard use of hefty steel and aluminium tariffs against his allies, as a trade war looms.

Shares of US Steel Corp rose 1.7 percent, but AK Steel fell 1.3 percent and Steel Dynamics Inc shed 0.9 percent.

Century Aluminum jumped 7.1 per cent, and Alcoa gained 3.6 per cent.

Germany's Economy Minister said early on Friday (June 1) the European Union might look to coordinate its response with Canada and Mexico.

EU Commission spokesman Margaritis Schinas said Thursday the European side is "ready to deal with any kind of scenario, and to defend the EU interests and global trade law".

And speaking to reporters, Macron described the U.S. move as "a mistake in many ways because it responds to existing worldwide imbalances in the worst way - by breaking up and creating economic nationalism". "In an increasingly protectionist world, inheriting the EU's old trade deals and winning new ones will be tougher than ever".

"US steel consumers are already reporting price increases and supply chain disruption and with some half-billion dollars of steel exported from the United Kingdom to U.S. previous year, United Kingdom steel producers are going to be hit hard".

Britain exports around £360m in steel to the USA every year, 10% of the industry's total exports.

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