Mexico, Canada may be exempted from tariffs

  • Mexico, Canada may be exempted from tariffs

Mexico, Canada may be exempted from tariffs

"We are focusing very much on gaining an exemption and that is what all our efforts have been directed to from the Prime Minister to the Trade Minister, all our officials, all our diplomats and that is what I have been doing here in NY".

For other countries, including U.S. allies, Trump said on Thursday that the United States is open to negotiations to modify or drop the tariffs for individual exporters. "If Donald Trump puts in place the measures this evening, we have a whole arsenal at our disposal with which to respond", European Financial Affairs Commissioner Pierre Moscovici said.

Trump later tweeted: "The European Union, wonderful countries who treat the US very badly on trade, are complaining about the tariffs on Steel & Aluminum".

The process of announcing the penalties has been the subject of an intense debate and chaotic exchanges within the White House, pitting hard-liners against free trade advocates such as outgoing economic adviser Gary Cohn.

"Many of the countries that treat us the worst on trade and on military are our allies-as they like to call them", Trump said. So which is it?

"Our Granite City Works facility and employees...have suffered too long from the unending waves of unfairly traded steel products that have flooded U.S. markets", U.S. Steel Chief Executive David Burritt told the Journal.

Watch more above, and see Trump's full speech below. "We want everything to be reciprocal".

United States Trade Representative Robert Lighthizer said at the conclusion of the seventh round of renegotiation talks in Mexico City earlier this week that the USA could seek bilateral deals with Mexico and Canada separately if needed.

With the tariffs chiefly aimed at the dumping of Chinese steel into the USA market, Trump confirmed Canada and Mexico would be exempt while the North American Free Trade Agreement is under renegotiation.

He insisted that domestic production was needed for national security reasons.

The Japan Aluminium Association also said the US decision to impose tariffs is "not in accordance with worldwide trade rules" and is "extremely regrettable".

Mr. Trump told one worker present that his father was looking down on him proudly.

"That's not the case at all", he said.

Trump is imposing the tariffs on national-security grounds using an obscure bit of trade law.

"We urge the administration to take this risk seriously", Donohue said.

The tariffs have triggered the threat of countermeasures from the European Union and China.

The auto industry once again warned the tariffs may harm USA economic growth, jobs and wallets.

Surrounded by a group of steelworkers, Vice President Mike Pence, Treasury Secretary Steven Mnuchin, and Commerce Secretary Wilbur Ross, Trump approvingly cited President William McKinley, a champion of protectionist economic policy, to support his trade decision.

Some of these countries - particularly Japan, Mexico and Canada - may get entangled in a tit-for-tat trade war with the Trump administration.