Trump defends tariff movements as allies fight back



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Trump President Trump Donald John TrumpTrump congratulates the new President of Mexico: "I am very much looking forward to working with him" Comedian who allegedly called Prump says that he hired Michael Avenatti Ex-Trump help pushes for Hope Hicks as Chief Trump Will "Listen to Women More than Men" MORE Defends Plans to Lift Billions of Customs Duties on the Nation's Closest Trade Partners Even as Allies Fight One Again a.

Officials remain firm on its protectionist trade policies, arguing that growing trade deficits prove that the United States has lost on the world stage for years.

The United States imposed heavy tariffs on steel and aluminum. hit China with rights over the alleged theft of intellectual property and is considering another round of taxes on imported cars.

Tariffs shaken relations with close allies such as Canada, Mexico and the European Union, all of whom fought back, pushing the world's largest economies to the brink of a global trade war . [Lundi, Trump] said at a meeting at the White House with Dutch Prime Minister Mark Rutte that if a trade agreement can be concluded with the European "it will be positive, and if we do not do it, it will be positive too. "

Rutte's response was brief: "No, not positive." [19659004TrumpedclaimsthattheUnitedStateswouldcontinuetomeetwiththeofficialsoftheEUwhiletheyagreedonadeal

On Sunday, Trump said that US allies such as the EU were "as bad as China" on trade.

The EU recently imposed $ 3.2 billion in tariffs on iconic American products such as bourbon bikes, jeans and Harley-Davidson in response to steel tariffs and of aluminum.

another possible lot of tariffs on $ 3.8 billion worth of goods.

Last week, Trump said He said his tough trade policies would force Chinese and American allies like the EU, Mexico and Canada to negotiate to change their policies. "Every country calls every day, saying," Let's make a deal, let's make a deal, "Trump said Sunday.

" Everything will be fine, "he said." Allies have not hesitated to to respect Trump's tariffs with their heavy reciprocal obligations, most of which came into effect in the past month.

On Sunday, Canada imposed US $ 12.6 billion of tariffs on high tariffs. 39, steel and aluminum.

China intends to touch $ 45 billion in US exports after Trump has announced that it would impose rights to Customs duty on $ 50 billion of Chinese goods.The first round of tariffs of 25% on 29.6 billion US dollars of exports is expected to start on Friday.Puzzle will implement the remaining $ 15.4 billion in a later moment, after assessing the reaction of the United States

Trump has since countered with another series of tariffs on $ 200 billion worth of Chinese goods.

The US Chamber of Commerce on Monday released a new state-by-state analysis of the effects of retaliatory tariffs from China, the EU, Mexico, and Canada.

The analysis shows how much of each state's exports are threatened by tariffs, the number of job losses, and what consumers may lose in a trade war.

"Fees are starting to weigh on US companies, workers, farmers and consumers." Thomas Donohue, President and CEO of the House, said: "Rates that result in rates that generate more tariffs only lead to a trade war that will cost US jobs and economic growth "

this week, about $ 75 billion of US exports will be subject to retribution tariffs

But while some experts have expressed concerns about how tariffs could result in job losses or damage to the economy, Trump et al.

Secretary of Commerce Wilbur Ross Wilbur Louis RossThe Hill & # 39; s Morning Report – Sponsored by Better Medicare Alliance – Dear and Brutal: Inside the Supreme Court Fights Money: Economic Growth slows 2% in the first quarter | Trump triggers rivalry with Harley-Davidson | Kentucky bourbon targeted in the Trump trade war | Dems offers SEC to investigate Wilbur Ross for insider trading MORE touted the strength of the economy as one of the reasons why he thinks the tariffs do not will not cause much harm to growth.

"I think all of these claims about the sky are at best premature and probably inaccurate," said Ross

. American Free Trade Agreement (NAFTA)

On Monday, Trump met with Mexican President-elect Andrés Manuel López Obrador, later declaring that he had addressed these topics.

"We had a lot of good conversations, I think the relationship will be very good, we'll see what happens," said Trump.

Formal trade negotiations on NAFTA are stalled after months of work. Trade observers expect negotiations to resume with Mexican elections

In early June, Mexico imposed a $ 3 billion tariff on US exports, including pork, apples, apples earth, bourbon and cheese.

The White House is also considering a 25% tariff on foreign cars, which could reach 350 billion dollars worth of imports.

Automakers and automakers have criticized the administration's investigation into auto imports, saying it would hurt the economy. Ross says it's "premature" to say if Trump will continue his plan to impose tariffs on auto imports.

The investigation of section 232 on national security began in May and a report could be released this summer.

The EU announced Monday that it would affect the United States with $ 300 billion in retaliatory rights on the auto issue.

Russia became the seventh member of the World Trade Organization (WTO) to negotiate with the United States.

Trump and Russian President Vladimir Putin will meet later this month in Helsinki

Canada, China, the EU, India, Mexico and Norway have all tabled their own affairs at the WTO. Trump and Ross on Monday continued their criticisms of the WTO, but said that this withdrawal from the global trade group "The WTO has treated the US very badly and I have not seen it. Hope they will change their way of doing things, they treat us very badly for many years and that is why we were very disadvantaged with the WTO. "Trump said Monday at the meeting of Rutte

"We are planning nothing now, but if they do not deal properly, we will do something," said Trump.

Ross said Monday that it is "" We have not hidden our view that some reforms are needed at the WTO, "Ross said in an interview with the chain CNBC's Squawk Box

On Sunday, Axios reported that the White House drafted a bill that would allow Trump to circumvent Congressional and WTO rules on trade, giving him power to raise tariffs and set different rates for member countries, established global trade rules.

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