European Union and others may get tariff exemptions, U.S. trade official says

Trump Tariffs On China Make Steel Fight Look Minor

Trump Said, "We're going to cut down the deficits one way or the other, we have a deficit with China of at least five hundred billion dollars and when you add an intellectual property, it's much higher than that, that's a year".

European Union trade commissioner Cecilia Malmstrom met with USA secretary of commerce Wilbur Ross yesterday as the bloc scrambles to secure an exemption from Trump's planned tariffs on metals imports.

U.S. Trade Representative Robert Lighthizer said that if the measures went ahead a mix of tariffs and restrictions on investment could be used.

President Donald Trump has imposed tariffs of 25 percent on imported steel and 10 percent on aluminum, saying that relying on foreign metals jeopardizes US national security.

But Australia accounts for only a tiny share of all USA imported steel - $380 million, or just 1.3 percent, in 2017.

The study is from the nonprofit organization, which has supported the USA administration's skepticism toward free trade.

Mr Li also said China will further open up its economy and its door to the outside will only get bigger and bigger, with foreign and domestic firms allowed to compete on an equal footing. Trump's tariff orders affect semifinished steel, such as ingots and slabs, and many kinds of finished steel products, including pipe and tubes, cold and flat rolls, bars and rods. The U.S. imports about triple that amount each from Japan, South Korea and Germany - also countries with military agreements with the U.S.

Administration officials have said that exempting too many countries from the tariffs might permit Chinese steel to enter the United States via those countries.

For example, let's start with the turnip-like salvo the administration launched in January: tariffs on imported washing machines and solar panels.

Imports make up about one-fourth of US steel consumption.

Brazil, a USA defense treaty ally, also has 16 trade levies created to keep Chinese steel out of its market.

Officials from Hong Kong, which accounts for 0.2 percent of US aluminum imports, said they have tried in vain to contact officials at the White House, State Department and other agencies seeking clarification. China has said it will strike back if the US presses ahead, although it has stressed targeted measures.

"We are up for seeking an exemption". Guge said his company will work on the product-exclusion application this week.

"This looks much more like a President who is excessively eager to apply tariffs than a well-calculated move to defend American interests", said Phil Levy, who was a trade advisor to President George W. Bush.

But Reinsch, an worldwide business specialist at the Center for Strategic and global Studies, said that the process should operate in a straightforward manner now that it is up and running.

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