Saturday, 22 September, 2018

Trump to face tough crowd at G-7 amid tariff fight

Jodi Jackson | 07 June, 2018, 13:54

Some further tariffs will come into force on July 5.

The US trade dispute with Mexico is heating up.

The Trump administration announced that it was moving ahead with 25 percent tariffs on imported steel and 10 percent tariffs on imported aluminum, sparking major backlash.

Numerous products targeted are produced by exporters in states that are politically important to United States President Donald Trump.

It's always perilous when the president of the United States decides to deploy his storehouse of information on subjects other than real estate, golf, or beauty pageants. The United States couldn't muster much interest in remembering the war; legislation in NY to plan events was vetoed in 2009, 2010 and 2011 because of tight finances and a $1.4 million price tag.

And tariffs like those on Kentucky bourbon and motorcycles seem meant to hit key members of Congress where they live - namely, Senate Majority Leader Mitch McConnell of Kentucky and Speaker of the House Paul Ryan of Wisconsin, the home of Harley-Davidson.

United States' pork exports to Mexico were worth more than USA $1 billion previous year, according to government data, and between 2010 and 2017, 89.2% of all pork exports to Mexico came from the U.S. Experts say that duty could usher in $100 million losses every year for US pork farmers.

Other Trump critics suspect the direct or indirect influence of Russian President Vladimir Putin, whose interests are served by discord between the US and allies.

"A trade war with Washington's agriculture trading partners and America's closest allies is not in anyone's interest", Newhouse wrote Tuesday.

Economy Secretary Ildefonso Guajardo said that Mexico would now "surely" look to import more pork from Europe.

After returning from the G-7 finance ministers summit in Canada, Mnuchin made the case that the USA has a $2 billion steel surplus with Canada and a almost $26 billion services surplus, and should consider making an exemption for its northern neighbor, according to the sources.

Trade talks in Beijing last weekend failed, despite China reportedly offering to buy $US70 billion worth of United States products.

However, one Mexican producer disagrees with Hernández's assessment that pork prices won't rise.

US-Mexico trade is worth about $600bn annually and about 16% of US goods go to its southern neighbour.

"In no way is this [tariff list] publication revenge".

Canada in particular has been outraged by Trump's tariffs, taking umbrage at the argument that they were motivated by national security concerns.

"I think the important thought here is he may be moving quickly towards these bilateral discussions instead of as a whole", Kudlow said. The second highest export market for Red Delicious apples behind Mexico is India, which also is considering retaliatory tariffs on apples.

Trump's comments come at a time of increased tensions between the U.S. and Canada, after the United States president unilaterally imposed increased tariffs without congressional approval, citing national security needs.

The War of 1812 (which lasted from 1812 to 1814) was a military conflict between the United States and Great Britain.

Matthew Rooney, a former US state department official in charge of the Canada file during the Obama administration, said there have been hard times in the past.

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