March 21, 2018

Mexico, Canada Don't Want Tariff Exemptions Tied to NAFTA

13 March 2018, 04:09 | Opal Carroll

Mexico, Canada Don't Want Tariff Exemptions Tied to NAFTA

Malcolm Turnbull

Politico quotes the Mexican Economy Ministry in a release that says, "The process of negotiations for the NAFTA modernization continues on a course independent of this or any other internal political measure that the USA government takes".

Last week, in an effort to boost American manufacturing and beef up national security, President Trump signed an order to impose tariffs on steel and aluminum imports - which, to no surprise, really grinds foreign manufacturers' gears.

The European Union, Mr. Trump rued, makes it nearly impossible for the do business with them.

U.S. Commerce Secretary Wilbur Ross will urge the European Union to lower its trade barriers, U.S. President Donald Trump said on Monday, calling them unfair to U.S. farmers and industry, a view the EU firmly rejects. It isn't going to change the price of a vehicle. We can not lose our steel industry.

Earlier Mr Turnbull had ruled out Australia joining an worldwide revolt against the steel tariff or a 10 per cent tariff on aluminium.

But the reaction was swift.

"All of a sudden you've forced them to deal politically with their own backlash at home", said Chad Bown, a senior fellow at the Peterson Institute for International Economics.

Australian Chamber of Commerce and Industry chief executive James Pearson said Australia must now use its diplomatic skills to help to avert a global trade war that no one will win. If a trade war erupts, "February's powerful jobs report could prove to be one of the last gasps of an economy that has been marked by healthy employment growth and remarkably little inflation".

Randle shines for Lakers against Cavs
Former Lakers fan favorite Larry Nance Jr . added 16 points while Jordan Clarkson was limited to four points in 16 minutes. Smith combined for just 10 points and struggled from the field, shooting a collective 3-for-15 (20 percent).

British Prime Minister Theresa May expressed her concerns to Trump by phone. One convincing argument is that the tariffs - whereas they would provide a shield to the United States steel industry - will increase steel prices, which will backfire on consumers and industries using steel, including the auto industry.

Trump's action has turned into a day-to-day drama of how the tariffs will specifically be implemented and their short- and long-term effects. Most of all, both the government and businesses need to minimise negative impact on domestic industries.

Trump's words only confirmed their suspicions when he seemed to link the metals tariffs with the 24-year-old trade deal that is being renegotiated in great part because of Mexico's big and growing trade surplus in autos and auto parts. If our neighbors to the north call Trump's bluff, dairy farmers such as those of central NY - the No. 3 dairy producing state in the US - could be collateral damage. "FAIR!" Mr. Trump said in a tweet.

As with his other America First policies, Trump's protectionist move faces criticism even inside the U.S., with news reports saying that some of his advisers opposed imposition of the new tariffs.

Dutch Finance Minister Wopke Hoekstra said the tariffs are "a bad idea".

As the pushback escalated, Trump had indicated Mexico and Canada would not be exempted from the tariffs if they didn't cooperate with him on the North American Free Trade Agreement renegotiations, essentially holding NAFTA hostage. "Exemptions will not address the fundamental problems tariffs will create for USA auto and truck manufacturing".

He also highlighted the strength of the national security relationship between the United Kingdom and the US. And to some degree, they're right.

Other News

Trending Now

NC unemployment rate stuck again in January at 4.5 percent
In the fourth quarter of 2017, the official unemployment rate in Albania, for the population aged 15 years and over is 13.4 %. The state lost jobs in the government and financial activities sectors and saw little change in manufacturing.

Vikings have 'reached out' to Drew Brees' agent
The Vikings are looking to replace three free agent quarterbacks in Case Keenum , Sam Bradford and Teddy Bridgewater. Brees could walk away from New Orleans and get paid more money and have just as good of a chance to win elsewhere.

Pierre Emerick-Aubameyang left frustrated with Europa League exclusion at Arsenal
With the momentum back in their favour, Aubameyang doubled Arsenal's lead in the 59th minute. However, Ozil wouldn't be denied his 50th Premier League assist for long.

Richard Sherman to Seahawks Fans Burning His Jersey: 'I Didn't Abandon Anybody'
Since entering the league in 2011, Sherman has been arguably the most dominant cornerback in the NFL. It gives me the ability to control my destiny.

Fertility Clinics Facing Outrage After Egg, Embryo Storage Failures
University Hospitals officials say procedure fees could be waived for future treatment, according to CNN affiliate WEWS . That embryologist, Herbert said, "immediately rectified" the problem by refilling the tank.

Oklahoma makes March Madness as No. 10 seed
Since 1986 (his first season as head coach at Kansas State), Kruger has never missed the postseason in consecutive seasons. An ESPN colleague of Vitale's, Jay Bilas, also didn't think much of the Sooners' inclusion in the field.

Ronaldo leads Real Madrid to 2-1 win over Eibar
Overlooked for Real's two biggest games of the season so far, the indication is Zidane does not trust Bale when it matters most . Ronaldo netted a score in each half of the La Liga victory Saturday at Ipurua Municipal Stadium in Eibar , Spain.

Adrian Peterson could return to Cardinals after release
The network reports that Peterson would be owed a $750,000 bonus on Friday if he were still with the Cardinals. The 2012 NFL MVP sits second among active rushers in yards and attempts, behind Frank Gore.

House declares no evidence of Trump-Russia collusion found, closes investigation
The House Intelligence Committee has finished all of its interviews in its congressional Russian Federation investigation.

George W. Bush tried steel tariffs. They didn't work
She argues that since European Union companies are not state subsidised or in overcapacity, they can't be considered a source of "unfair trade" with the US.