U.S. steel stocks volatile on Trump tariff uncertainty

05 March, 2018, 01:34 | Author: Teresa Adams
  • Donald Trump says 'trade wars are good' as Wall Street reacts badly to news of steel tariffs

Navarro, the director of the Office of Trade and Manufacturing Policy, during the interview argued that China is the source of the problem despite its low place on the list of exporters.

"They know that this individual, this government, is far more protectionist and we are at risk".

The Commission also insisted that any retaliatory measures would comply with rules set out by the World Trade Organization (WTO).

"I do not think that trade wars can be won by anybody".

"When a country (US) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win", Trump tweeted.Le Maire took a swipe at China, which is accused by the United States and Europe of flooding their markets with low-priced imports.

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Kosei Shindo, chairman of the Japan Iron and Steel Federation, said that the move would "create a negative chain reaction affecting not only steel but also other products considered to have national security implications".

When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win.

"If the President wants to protect good-paying, family-supporting jobs in America, especially here in Wisconsin, then he should reconsider the administration's position on these tariffs, particularly on ultra-thin aluminum", Walker says. Officials RespondCanadian officials were very quick to respond, saying that they will be changing their own tariff measures.

"When the pricing is as volatile is it's been - and not just in the steel industry, but in the entire market - it becomes very hard", Rogers said of the construction industry.

President Donald Trump announced Thursday new proposed tariffs on steel and aluminum imports.

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Steel and aluminium each account for less than one percent of China's total exports to the United States. There are better ways to address concerns about the American steel and aluminum industries.

Trudeau stressed in his comments he was prepared to "defend Canadian industry" and that the tariffs would also hurt US consumers and businesses because prices could rise. Our steel industry is in bad shape.

Republican Sen. Joni Ernst bucked the president Friday, saying she's deeply concerned over the prospects of a trade war affecting Iowa's agricultural industry.

"Historically, whenever you have this type of trade protection that sparks a trade war, the impacts are quite dramatic", he said.

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