Published: Tue, March 06, 2018
Worldwide | By Gretchen Simon

Trump trade war: China vows retaliation if tariffs bite

Trump trade war: China vows retaliation if tariffs bite

Europe has warned US President Donald Trump to expect retaliatory strikes against American icons like Harley-Davidson, Levis jeans and Kentucky bourbon if he sparks a trade war by going ahead with the proposed tariffs on foreign steel.

President Trump announced on Thursday the government will be imposing a 25% tariff on steel imports and a 10% tariff on aluminum imports.

China has stated its position on many occasions, Hua said.

"We're going to build our steel industry back and our aluminum industry back", Trump said, adding that the tariffs would not target specific countries or impose quotas.

"Our friends and enemies have taken advantage of the US for many years".

Canadian Foreign Minister Chrystia Freeland said Ottawa would retaliate against the USA, calling any trade restrictions "absolutely unacceptable".

Following the announcement, Gov. Scott Walker has asked Trump to reconsider his position on tariffs if he wants to protect U.S. jobs.

New Bentley Bentayga hybrid kick-starts brand's electrification plans
Ideally, Bentley says the system will deplete the battery's charge completely just as you arrive at your destination. The last setup allows the vehicle to run exclusively on engine power while retaining charge levels for later use.

"The prime minister raised our deep concern at the president's forthcoming announcement on steel and aluminum tariffs, noting that multilateral action was the only way to resolve the problem of global overcapacity in all parties' interests", the spokesperson said in a statement.

Canada's leadership said they would retaliate with tariffs on United States exports, and European leaders said they would as well, targeting Kentucky bourbon, Harley Davidson motorcycles, and blue jeans. A major South Korean business lobby, the Federation of Korean Industries, said Sunday it sent letters to US Congress members and officials seeking an exemption. We are the third-largest producer of steel in the world already. "They will lead to the exact opposite outcome of the administration's stated objective, which is to protect American jobs".

"The potential for escalation is real, as we have seen from the initial responses of others", said World Trade Organization director general Roberto Azevêdo.

European Commission chief Jean-Claude Juncker vowed the bloc "will react firmly" to defend its interests.

On Monday morning, the president tweeted that "Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed".

He said they would treat the products "the same way" the United States wants to handle tariffs on European metals.

Like this: