Published: Tue, March 13, 2018
Culture&Arts | By Hattie Nash

How big of an economic threat are Trump's steel and aluminum tariffs?

How big of an economic threat are Trump's steel and aluminum tariffs?

He said other countries could be spared the tariffs if they can convince the USA government that their steel and aluminium exports do not threaten American industry.

Experts say Canada could be the country hit hardest by the tariffs.

The EU's top trade official, Cecilia Malmstroem, responded Monday by charging that trade was being used "as a weapon to threaten and intimidate us". Based on the fact that there are few parts necessary for the upkeep of a vehicle that do not contain significant amounts of steel and aluminum, this action will have a significant negative impact throughout the supply chain, including many medium and small businesses and their employees that comprise the auto care industry.

"The European Union, wonderful countries who treat the USA very badly on trade, are complaining about the tariffs on Steel & Aluminum".

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Trump, in a Twitter remark, said Secretary of Commerce Wilbur Ross plans to talk with European Union officials about what the president described as "large Tariffs and Barriers they use against the U.S.A".

Trump exempted Canada and Mexico from the tariffs he signed last week.

In revealing those measures, European Commission head Jean-Claude Juncker taunted Trump, saying the EU could match "stupid with stupid".

In a comment, the Chinese Commerce Minister said that a trade war with America would only have catastrophic consequences for the world economy.

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But he added: "We found no evidence that the Trump campaign or anyone associated with it colluded with the Russians". He said the committee was preparing a separate, in-depth analysis of the intelligence community's assessment.

Other countries may also ultimately be excluded. He said that most of Canada's pulse crop exports will not be affected by the tariffs set forth by India.

However, they expect any talks about a possible permanent exemption to take place outside of the North American Free Trade Agreement negotiations.

Malmstroem fired back at Trump after holding fruitless talks in Brussels on Saturday with US Trade Representative Robert Lighthizer aimed at defusing the row and avoiding an all-out trade war.

"Dialogue is always the prime option for the EU", European Commission spokesman Enrico Brivio said at a news briefing on Monday. "If anyone starts throwing stones, it is better first to make sure you're not living in a glass house", he added.

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Asked about Trump's tweet, the European Union in a statement said that "no further meetings as such are planned at the moment".

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