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Trade War & Recession News and Discussions

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#21
Yuli Ban

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Trump administration will put steel and aluminum tariffs on Canada, Mexico and the EU

EFFECTIVE MIDNIGHT

The Trump administration will put tariffs on steel and aluminum imports from Canada, Mexico and the European Union, the latest action in a string of protectionist policies to crack down on alleged trade abuses.
The tariffs of 25 percent on steel imports and 10 percent on aluminum imports will take effect at midnight Thursday, Commerce Secretary Wilbur Ross told reporters. The U.S. gave those allies a reprieve from the duties, but the exemptions were set to expire Friday. The Trump administration will place quotas or volume limits on other countries such as South Korea, Argentina, Australia and Brazil instead of tariffs, he said.
Condemnation from U.S. allies poured in immediately Thursday. European Commission President Jean-Claude Juncker called the tariffs "unjustified" and said the EU will introduce countermeasures in the coming hours. A spokesperson for the British government also said the U.K. is "deeply disappointed" in the move and added U.S. allies "should be permanently and fully exempted" from the tariffs. Mexico also said it would impose tariffs in response to the U.S. actions.


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#22
Yuli Ban

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What the fuck does he think he’s doing?


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#23
Yuli Ban

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wther98-trump-just-said-trade-wars-are-g


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#24
Yuli Ban

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25m6ja.jpg

 

 

This is just unspeakably, shockingly stupid. It's a fucking suffering of the mind!


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#25
wjfox

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This is just unspeakably, shockingly stupid. It's a fucking suffering of the mind!

 

Trump supporters will just blame Obama (or "Barry" as they seem to call him).


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#26
Alislaws

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Eventually he has to mess up so badly even Trump suporters can't delude themselves into thinking he is winning. Is this trade war that mistake?

 

Obviously the real question is how badly does he have to mess up before they notice, and will there be anything left of the world afterwards?


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#27
wjfox

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Trump could propose the slaughter of the first born, and he'd still get 25-30% of his base supporting him.


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#28
Yuli Ban

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Mexico to retaliate after US trade penalties

Mexico says it will answer tariffs on steel and aluminum announced by the Trump administration with duties of its own on a variety of U.S. products.
Mexico says it will impose tariffs on U.S. imports including pork bellies, apples, grapes, cheeses and flat steel among other things.
A statement from Mexico's economy ministry says the U.S. use of a national security justification is improper and that the tariffs affect strategic sectors for North America, including automotive, aerospace and electronics.
Trump announced the tariffs in March, but gave exemptions to the European Union, Mexico and Canada.


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#29
Yuli Ban

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EU announces retaliation against Trump tariffs

The EU confirmed Thursday that it would retaliate against steel and aluminum tariffs imposed by U.S. President Donald Trump, in what many European officials fear could be the first salvos of a transatlantic trade war.
Over recent days, European leaders had hoped that Washington would exempt the EU from tariffs, or would instead impose a quota system. Trump, however, ultimately decided to roll out the full 25 percent additional tariff on steel, and 10 percent on aluminum as originally threatened.


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#30
Yuli Ban

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‘Retaliate at your own risk, Trump will hit back’ US tells EU ahead of tariffs deadline

Mr Ross counselled strongly against imposing retaliatory measures on US imports if American President Donald Trump goes ahead with his promise to impose hefty tariffs on European steel and aluminium to protect US consumers.
At a meeting of the  Organisation for Economic Cooperation and Development in Paris he said: “America does not want a trade war. The president has made clear time and time again that we have a trade deficit and are losing out to our partners, who for their part have a trade surplus.
“It is now up to the European Union to decide whether it wishes to take retaliatory measures."


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#31
Yuli Ban

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Eventually he has to mess up so badly even Trump suporters can't delude themselves into thinking he is winning.

Oh don't kid yourself.
"We were stabbed in the back by the Deep State/Globalists/SJWs! They won't allow Trump to win! They're responsible for everything that's gone wrong!"


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#32
Yuli Ban

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EU to open WTO case against U.S. tariffs: Malmstrom

The European Union will launch a case at the World Trade Organization against a U.S. move to put new import tariffs on EU steel and aluminum, Trade Commissioner Cecilia Malmstrom said in a statement.
“The U.S. has sought to use the threat of trade restrictions as leverage to obtain concessions from the EU. This is not the way we do business, and certainly not between longstanding partners, friends and allies,” she said.


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#33
Yuli Ban

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Abe: Japan 'Cannot Accept' New Tariffs On U.S. Auto Imports

Japan's Prime Minister Shinzo Abe says his government "cannot accept" new U.S. tariffs on imported automobiles, as is reportedly being considered as a possible next move by the White House.
President Trump last week launched an investigation into whether auto imports posed a national security risk to the U.S., a justification that might be used to raise the duty on cars from 2.5 percent up to 25 percent.
"It's hard for Japan to understand and we cannot accept it," Abe said in a session of the Diet, Japan's parliament, adding that Tokyo would let Washington know its concern over the direction of U.S. trade policy.


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#34
Yuli Ban

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A previously unthinkable US and EU trade war has begun

The US confirmed today (May 31) that it’s slapping the European Union, Mexico, and Canada with tariffs on steel and aluminum imports.
After months of threats, the White House announced that it would not extend the EU’s exemption from 25% duties on imports of EU steel, and 10% on its aluminum. US commerce secretary Wilbur Ross said the tariffs will go into force from midnight tonight. Canada and Mexico, the US’s biggest trading partners along with the EU, will also not be granted waivers from the punitive tariffs.
A trade war would have been almost unthinkable in the decades of trade relations between the EU and its long-time ally North America. But then Donald Trump entered the White House with promises to protect US industries, and claims that the country was being cheated and treated unfairly in its global trade relationships.


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#35
Yuli Ban

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Trump to impose total ban on luxury German cars

President Trump wants to impose a total ban on the imports of German luxury cars, according to a new report from CNBC and German magazine WirtschaftsWoche.
Several U.S. and European diplomats told the news outlets that Trump told French President Emmanuel Macron about his plans last month during a state visit.
Trump reportedly told Macron that he would maintain the ban until no Mercedes-Benz cars are seen on Fifth Avenue in New York.
 
Shares of Daimler, Porsche and Volkswagen were lower on Thursday, shortly after the weekly German business magazine published the report.
The Hill has reached out to the White House for comment.


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#36
Yuli Ban

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And it looks like Trumpettes are starting to get drunk on all that orange juche. Everywhere you look, you see redcaps defending this by saying it's bringing manufacturing jobs back to America, ending unfair deficits with other nations, and making America great again. 

 

All of which stands completely opposed to any economic common sense. Like, even middle school econ 101 would tell you how shockingly dumb of a move this is for America. If Obama passed this measure, Fox News wouldn't shut up about how it's basically the US enacting sanctions on itself. And they'd be right for once. 

But because it's Trump, MAGA. 

 

1ifl54.jpg


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#37
Sciencerocks

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wther98-trump-just-said-trade-wars-are-g

 

 

Republicans have a long history of doing stupid fucking shit that crashes this country to enrich the riches amongs us. This is why people that aint the riches amongs us should never vote for them.


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#38
Sciencerocks

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Paul McLeod

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Presser over. There you have it. Canada’s response is:

1) Retaliatory tariffs on $16.6 billion of American goods.

2) Appealing to World Trade Organization.

3) Saying Trump is disrespecting soldiers who died in World War


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#39
Sciencerocks

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Canada Announces Retaliatory Tariffs Against US
Source: CNBC

 

Canada will retaliate against new U.S. tariffs by imposing its own trade barriers on U.S. steel, aluminum and other products, Canadian Foreign Minister Chrystia Freeland said Thursday.

Freeland said Canada plans to slap dollar-for-dollar tariffs on the U.S. The NAFTA partner's proposed import taxes would also cover whiskey, orange juice and other food products alongside the steel and aluminum tariffs.

Canadian Prime Minister Justin Trudeau said that the tariffs, announced Thursday by U.S. Commerce Secretary Wilbur Ross, are an affront to the security partnership between the U.S. and Canada.

 


Read more: https://www.msn.com/...4pHw?li=BBnb7Kz

CNN, 'Trump Is Starting A Global Trade War,' May 31, 2018
http://money.cnn.com...onse/index.html


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#40
Yuli Ban

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France's Macron says U.S. tariffs are illegal and a mistake

French President Emmanuel Macron said a decision by the United States to impose tariffs on European metals exports is illegal and a mistake which could close the door on discussions about other issues.
The French leader said he would talk to President Donald Trump on the subject later on Thursday.


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