Australia to secure exemption

Nellie Chapman
March 13, 2018

This particular tariff includes a 25% tax on steel imports and a 10% tax on aluminum imports from all countries except Canada, Mexico, and Australia. "Right now we are negotiating NAFTA with Canada and Mexico, so we are holding off the tariffs to see if we can make a deal on a new NAFTA treaty", he stated.

Recently, the Trump Administration issued steel and aluminum tariffs that could potentially put at risk, according to industry associations.

After announcing tariffs on steel and aluminum imports, Trump threatened over the weekend that he may now place higher levies on European cars, telling supporters at a rally that the countries of the EU have banded together "to screw the USA on trade".

In a speech in the U.S. on Sunday, Mr Trump lashed out at the European Union, saying they erected "horrific" trade barriers based on environmental and other regulations. "If not, we Tax Cars etc". It has threatened to slap retaliatory duties on around 2.8 billion euros ($3.4 billion) worth of U.S. steel, agricultural, and other products like peanut butter and orange juice if it is not excluded from the tariff regime. House Speaker Paul Ryan, R-Wis., said he disagrees with the move, and other congressional Republicans are hoping to block the duties with legislative action.

While that kind of talk makes agriculture very nervous, Mr. Trump said he is optimistic there will be a NAFTA deal, "I have a feeling we are going to make a deal on NAFTA". Thailand fears a trade war with the US, sparked by major steel exporters dumping and trying to re-export from Thailand and directed by US President Trump.

And that doesn't factor in the costs borne from retaliation taken by foreign partners against unrelated US industries.

With backing from Trump, a rise in USA import tariffs will allow him to deliver on his campaign promise of protecting, gaining much needed support as he approaches the half way point in his term of office. Swedish manufacturer Electrolux halted its plans to build a $250 million production plant in Tennessee, attributing its decision to Trump's tariff announcement.

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The Imam of Kaaba expressed that terrorism and extremism could not be tolerated anymore and they should not be linked to Islam. The PM said the people of Pakistan had great respect for him and considered his visit as a matter of honour.

And without a clear-cut exemption process, the move aimed primarily at punishing China now risks leaving USA allies from Japan to the European Union caught in the crossfire.

Trudeau also said it was in part due to the hard work of Canadian officials that Trump exempted Canada from the tariffs last week.

Australia buys around 60 per cent of its military assets from the US, allows USA marines to rotate through Darwin every year, and swaps intelligence as part of the "Five Eyes" alliance also including Britain, New Zealand and Canada. Beijing said it was ready to counterpunch if the US tariffs hurt Chinese companies, though in a statement Friday it made no specific retaliation threat.

More surprising may be the outrage in the USA from groups that have traditionally backed the president.

"We have our economic relationship, we have our security relationship", he said.

"The Department for Business Energy and Industrial Strategy will be assisting United Kingdom industry working with USA customers to build their cases for exemptions", Fox said.

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