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Trump wants tariffs on steel & aluminium (LINKS: (Expansionism,…
Trump wants tariffs on steel & aluminium
LINKS:
Expansionism
Isolationism
Marshall Plan
their interest --> America first
Protectionism
tweet : We want free, fair, SMART TRADE
tariffs long promising - 25% steel & 10% aluminium
promise protection
exclude any countries
benefit some workers
global glut
expansion of China's production capicity - 2000s
trade flows - America - anti-dumpunig & countervailing duties
aim: national security
Broadly
less SMART
Americans employees outnumber
higher prices - passed on to consumers
buy less --> lost jobs
Bush - tariffs 2002 - destroy jobs
NAFTA - manufactuers - avoid - Canada or Mexico - free
Republican head of the Senate Finance Comittee - tariffs - tax hike - no need & can't afford
Trade Expansion Act of 1962
Beyond America's border - disastrous
rules of WTO - not supposed - new tariffs
exception: national security at stake
sue American in WTO - body's judes - America favour --> erect their own tariffs - same ground
Countries (America) - stop China - same
judges >< America --> Trump bow
bigger fear
not wait for WTO ruling
Canada - responsive measures - trade interests & workers
Mexico - retaliatory measures
Chinese - unlikely to refrain from action
2009 - Obama - safeguards on Chinese tyres
restrictions - America's chicken-feet exports
countries allowed - retaliatory duties >< state impose such tariffs - imports - not increased
Eu's trade commissioner - EU - similar tariffs