Donald Trump's steel tariffs a 'crazy idea': Conference Board of Canada

Donald Trump's steel tariffs a 'crazy idea': Conference Board of Canada

House Ways and Means Committee spokeswoman Lauren Aronson said that the committee's chairman, Rep. Kevin Brady, R-Texas, and the subcommittee chairman, Dave Reichert, R-Wash., have drafted a letter to Trump expressing their concerns. Just recently the president of Mexico canceled a state visit to the White House.

It turns out the biggest target of such a move would actually be Canada, which is the largest exporter of steel to the US, sending $5.1 billion (U.S.) worth south of the border in 2017. Ryan's home state of Wisconsin would be hit by proposed European counter-measures on Harley-Davidson Inc motorbikes.

Ah yes, how far will Republicans go to stand up to Trump?

Trump was expected to finalise the planned tariffs later in the week, posing a tough challenge for US Trade Representative Robert Lighthizer, Canada's Foreign Minister Chrystia Freeland and Mexican Economy Minister Ildefonso Guajardo. Stocks across the globe rose on Monday, however, after four days in decline as investors saw the tariff threats as a U.S. negotiating tactic and not a done deal and as pressure grew on Trump to back off.

"I don't know how to explain it because I've been in meetings with him on trade", Thune told reporters.

British Prime Minister Theresa May raised her "deep concern" at the tariff announcement in a phone call with President Trump Sunday.

Despite Trump's tweet claiming there is a large trade deficit with Canada, in fact the United States maintains a trade surplus with its northern neighbor of almost $8 billion in 2016, and almost $3 billion in the first nine months of 2017. The end result could erode the president's base of support with rural America and even the blue-collar workers the president says he trying to help. Trump escalated those fears on Friday by writing on Twitter, "Trade wars are good, and easy to win". But Mr. Trump's move will have a limited effect on China because much of the steel and aluminum the United States imports actually comes from allies like Canada, Brazil, South Korea and Mexico.

All three countries have been mired in trade talks since last August that were sparked by Trump's insistence that NAFTA has been a raw deal for American manufacturing workers.

East Coweta HS student brings loaded gun to school
The suspect had left school prior to the arrival of the officers. "We walk in here and we are scared", said student Amber Price. There will be an additional police presence at Parkway West High School Thursday after a threat was made on social media.

The EU responded in kind, with European Commission president Jean-Claude Juncker telling German television that the Union would not "put our head in the sand". It did not threaten to ramp up the issue. He also promised to enact what he called "RECIPROCAL TAXES" on any country that has a tariff against any US good or service. He says Trump is "letting China off the hook". "The fact that Trump's announcement received such significant pushback is likely only retrenching his commitment to act".

The president on Monday indicated he might consider exempting Canada and Mexico from global steel and aluminum tariffs if he likes the outcome of pending trade talks.

At the event in Richmond, MacNaughton said he found it "a bit strange" that tariffs could be justified that way, given the long history of cooperation between the USA and Canada on security.

He said neither Canada nor Mexico will want to be seen as giving in to US pressure. The two countries again stood firm.

Trump's decision is the starkest break from traditional GOP economic philosophy on trade since taking office.

".In the aluminum case, we have a situation now where import penetration is over 90 percent. It's called NAFTA", he declared.

What do USA trading partners make of this?

Wall Street was spooked by the tariffs and the potential that they will set off a global trade war.