Home » World

Merkel: Europe Will Push Back If Hit With Trade Tariffs

01 May, 2018, 04:56 | Author: Priscilla Morrison
  • Anadolu Agency  Anadolu

In March, Trump imposed duties of 25 percent on steel and 10 percent on aluminum.

The EU also plans to join a separate WTO dispute against the USA, arguing that the American tariffs violate the WTO's most-favored nation principle, which prevents countries from discriminating between their trading partners.

The Trump administration has made a decision to hold off on imposing most of its tariffs on imported steel and aluminum until at least June 1.

Trump officials initially said there would be no exemptions, sparking an outcry from Europe and also some Republicans on Capitol Hill concerned that the retaliatory measures would hurt home state industries.

If it loses its exemption, the European Union has said it will retaliate with its own tariffs on US goods imported to Europe.

South Korea was given an indefinite exemption in return for a 30% cut in its steel exports to the US.

U.S. Treasury Secretary Steven Mnuchin said Trump has not yet made a decision on whether any countries should get extended exemptions on steel and aluminum tariffs.




The European Union's trade commissioner is holding last-ditch talks with the United States today in a bid to gain permanent exemption from the Trump administration's tariffs on steel and aluminium imports.

His cabinet colleague Commerce Secretary Wilbur Ross told Bloomberg that the White House will continue to grant some countries relief from the metals tariffs, but wouldn't name any nations.

President Trump has announced who will be heading to China this week to discuss trade issues.

"Absent any additional presidential proclamation, all tariffs would go into effect at midnight", the official said.

Canada and Mexico, meanwhile, have rejected Trump's suggestion of linking the discussions over metals tariffs to securing the USA better terms in a renegotiated North American Free Trade Agreement. The EU has threatened to retaliate with duties on iconic American goods such as Harley-Davidson motorcycles and Kentucky bourbon.

Trade relations between China and the United States have deteriorated in recent weeks.

Economists have warned that tariffs could backfire, by raising prices for US businesses and consumers and sparking a backlash against American exports. "We've been having lots of discussions internally, we've been having lots of discussions with our counterparts", he said, adding: "We're addressing these issues real time". Forcing governments to limit shipments of goods violates WTO rules, which prohibit so-called voluntary export restraints.

Recommended:

  • Messi hits three as Barcelona clinch league title at Deportivo

    Messi hits three as Barcelona clinch league title at Deportivo

    Messi now has 32 league goals, more than anyone else in Europe's major leagues, and has also contributed 12 assists this campaign. Fittingly, it was a hat trick by Lionel Messi that helped Barcelona secure its 25th Spanish league title.

    Washington Capitals vs. Pittsburgh Penguins: 3 Takeaways From Game 2

    The Washington Capitals are averaging 3.1 goals per game and are scoring on 22.5 percent of their power play opportunities. The Penguins were not happy with it, but that seems to be fairly consistent with how these reviews have been handled.
    NFL Draft: Hayden Hurst is lone Round 1 tight end

    NFL Draft: Hayden Hurst is lone Round 1 tight end

    San Francisco added a dash of local flavor by drafting Notre Dame tackle Mike McGlinchey with the ninth pick. Daily sports headlines from across Gwinnett County, including high school , professional and college news.
  • Syria war: Missile strikes on military sites 'kill pro-Assad fighters'

    Syria war: Missile strikes on military sites 'kill pro-Assad fighters'

    "Spies steal documents all the time", said Schanzer of Israel's massive document dump on Monday, "but this was a huge cache". Israeli Intelligence Minister Yisrael Katz told army radio on Monday morning that he was "not aware" of the latest strikes.
    Israeli soldiers shoot dead Palestinians on Gaza border

    Israeli soldiers shoot dead Palestinians on Gaza border

    Hamas deputy chief Khalil al-Hayya on Saturday said the PA had orchestrated the attack in order "to kill reconciliation". Israel says it is aiming only at instigators, and accuses Hamas of using civilians for cover to carry out attacks.
    Rise in interest rates spark panic on Wall Street

    Rise in interest rates spark panic on Wall Street

    Other big technology companies also fell, as Facebook dropped 3.7 percent to $159.69 and Microsoft skidded 2.3 percent to $93.12. The stock market had already been spooked by a climb in bond yields earlier in the year, sliding sharply in February.
  • British Home Secretary Resigns Amid Immigration Scandal

    British Home Secretary Resigns Amid Immigration Scandal

    Many in the British media and online have suggested the resignation is indicative of a government on the verge of collapsing. The British government says they will be allowed to stay and has promised to set up a simple no-fuss registration process.
    Trump prepares for his own meeting with Kim Jong

    Trump prepares for his own meeting with Kim Jong

    Actually, I have to tell you, these groups are actually a pretty common sight in Seoul , especially on the weekends. He also tweeted that " things are going very well , time and location" of meeting with Kim are being set.
    Essentia Health Gives Patien Update On Husky Refinery Explosion

    Essentia Health Gives Patien Update On Husky Refinery Explosion

    With the addition of the Superior Refinery, Husky's total downstream capacity increased to approximately 395,000 barrels per day. Fire Chief Steve Panger said local authorities were still working with federal agencies to determine the cause of the explosion.
  • European Union  to defend interests against USA  trade measures: Germany, France, Britain

    European Union to defend interests against USA trade measures: Germany, France, Britain

    In 2015 the United States and other nations struck a deal with Iran to end a 12-year standoff over that country's nuclear program. US National Security Advisor John Bolton told Fox News on Sunday that Mr Trump had not yet made his decision.
    Xi Jinping wants screening of more Bollywood movies in China

    Xi Jinping wants screening of more Bollywood movies in China

    The two leaders met at Wuhan's East lake where they had a brief walk followed by a boat ride. He said there was no disagreement between the two leaders at the meeting.
    Rams finally make first pick, grab TCU OT Noteboom

    Rams finally make first pick, grab TCU OT Noteboom

    Noteboom could serve as the swing tackle while being groomed as the eventual successor to Andrew Whitworth at left tackle. When the Rams resume their offseason program, they'll do it without one of their longest-tenured players. "I'm pumped.


Popular

Syria says evacuation deal reached with opposition in southern Damascus
Activists in the area told Al Jazeera at least 18 civilians have been killed since the campaign began April 19. IS has held parts of Hajar al-Aswad and Yarmuk since 2015 and seized Qadam last month.

Mike Pompeo Calls Israeli-Palestinian Peace 'Incredible Priority' for US
But it has defended the shrinking permit numbers from Gaza, saying Hamas exploits travelers to smuggle money or weapons. The officer spoke on condition of anonymity under military guidelines.

Conte keen for Cahill to play ahead of World Cup
Chelsea kept alive their slim hope of securing a top four place courtesy of man of the match, Cesc Fabregas fourth minute strike.

Pompeo stresses that Saudi Arabia's security is a priority for US
Meanwhile, Jubeir reiterated the need for more sanctions to be imposed on Iran due to its support for terrorism and missiles. Pompeo replied, "You're an incredibly important partner, [and] occupy a special place in my heart too".

Hockey Twitter reacts to NHL Draft Lottery results
Russian forward Andrei Svechnikov is the top-ranked North American prospect after playing for Barrie of the Ontario Hockey League. The Sabres have picked first overall twice previously taking Pierre Turgeon in 1987 and selecting Gilbert Perreault in 1970.

Iowa's Daniels Selected by Chicago Bears in 2nd Round of NFL Draft
Utah defensive end Kylie Fitts (right) tackles UCLA wide receiver Darren Andrews on November 3 in Salt Lake City. You should know: Nichols hails from the football program where Bears coach Matt Nagy played.

Oil prices jump on Iran tiff between Trump and Macron
Brent crude for June delivery rose 74 cents to end the session at $74.74 on the London-based ICE Futures Europe exchange. On April 25, French President Emmanuel Macron , during an official visit to the U.S., said that he sees signs that U.S.

High-rise once planned as Trump hotel catches fire in Azerbaijan
The fire broke out on the middle floors of the 33-storey Trump International Hotel and Tower in Baku on Saturday afternoon. A fire had broken out in the Trump Tower building, with firefighters responding at the scene, witnesses told Sputnik.

Liverpool reveal stance on Gerrard's Rangers job offer
Gerrard is still mulling over the Rangers job and Benitez has offered to be a sounding board if he wants to contact him. According to The Scottish Sun , Rangers have agreed a deal to sign Burnley midfielder Scott Arfield .

The EU voted to ban substances that kill bees
He warned that without the pesticides many crops grown would become less viable and could lead to increased imports of food.