Economist: Trump's tariffs 'would be bad for Americans'

Alicia Farmer
March 11, 2018

Canada and Mexico are exempt from the tariffs pending ongoing NAFTA negotiations.

"We have to look at the internet because a lot of bad things are happening to young kids and young minds and their minds are being formed", Trump said in February, according to The Washington Post.

China on Friday denounced U.S. tariffs on aluminium and steel imports, saying that they would profoundly harm the global trade environment, AFP reported. "I just want fairness". But he exempted Canada and Mexico and held out the possibility of excluding other allies. Trump's Chief Economic Adviser Gary Cohn has threatened to resign if the president goes through with the tariffs.

Orrin Hatch of Utah and Ron Johnson of Wisconsin, floated the possibility of legislation to limit Trump's ability to impose tariffs or to require congressional approval, though there's no indication any such plan could garner the necessary veto-proof margin for passage.

The Mexican peso led gains among the world's major currencies and the Canadian dollar erased its decline after Trump announced the exemptions for the two countries.

While it remains to be seen how or if this proposed meeting will play out tomorrow, the fact that the White House has invited at least two established advocates of increased scrutiny or control over the content of video games and other cultural mediums suggests that tomorrow's meeting will be less of a conversation and more of a debate.

"Modification or removal of the tariffs would be possible if alternative means are agreed upon to ensure imports from a country no longer threaten to impair our national security".

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That leaves some vulnerability for Hamilton's steel sector, comprising big companies like Stelco and ArcelorMittalDofasco, as well as many ancillary companies. Also discussing opening up Japan to much better trade with the U.S. now have a massive $100 Billion Trade Deficit.

Arizona Sen. Jeff Flake, a Republican, said he plans to introduce legislation next week to nullify the tariffs though he has acknowledged that finding the votes to stop the president's actions could be hard.

Hardt called the U.S. decision a "blow to transatlantic economic ties" and criticised U.S. President Donald Trump for seeking answers to U.S. economic problems overseas.

Musk made his argument after responding to a Trump tweet demanding that China reduce its trade deficit with the United States.

"We need a thoughtful and aggressive response to China's overproduction of steel and aluminum, but blanket tariffs are not the answer", said Bennet, a member of the Senate Finance Committee.

"We expect that the president will sign something by the end of the week and there are potential carve-outs for Mexico and Canada based on national security, and possibly other countries as well based on that process", White House spokeswoman Sarah Sanders told a regular media briefing.

The European Union and Japan, the United States' top economic and military ally in Asia, also reiterated that their exports were not a threat to USA national security, rejecting Trump's justification for imposing the tariffs.

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