Markets

USA asks European Union to remove trade curbs

USA asks European Union to remove trade curbs

According to a Morgan Stanley report, India exports less than 1% of its steel produced to the USA which accounts for 4% of the country's total exports.

While it was not entirely clear whether the threat reflected actual United States policy or merely an effort by the president to play to an appreciative crowd, he had used similar language earlier on Twitter. On Friday, Trump announced on Twitter a plan to exempt Australia from the tariffs, saying that the country is committed to having a very fair and reciprocal military and trade relationship.

The EU's detached elite is singularly unaware of the poverty their customs fortress contributes to around the world - including even sections of USA society - so we should be grateful to President Trump that he is calling them out and seeking to establish free trade that is equitable to everyone. Big deficit. If not, we tax cars etc.

The announcement of duties of 25 percent on imported steel and 10 percent on aluminium has stung the European Union, coming as a surprise to U.S. allies and to many in Washington. "Domestic steel production is vital to national security", it said. "It looked like Canada was potentially going to play hard to get". "But it's consistent with what the president said not just during the campaign, but for decades".

China threatened to slap retaliatory tariffs on U.S. farm products like soybeans, and the European Union said it too could impose tariffs on signature American brands like Harley Davison motorbikes, Levi's jeans and bourbon.

"We can't even sell our farming goods in there, they totally restrict us". Having experienced the impact of "Japan bashing" from past USA administrations, it would rather China be the fall guy for U.S. trade aggression this time.

As the United States tries to light a fire under NAFTA negotiations, Canadian Foreign Affairs Minister Chrystia Freeland says Canada will not be bullied or pressured by the United States as part of those talks.

Karti Chidambaram sent to judicial custody till March 24
Karti Chidambaram has been in CBI custody for questioning since his arrest from Chennai Airport on February 28. The CBI FIR, lodged on May 15 past year , had alleged irregularities in the FIPB clearance to INX Media.

Despite Trudeau's suggested prior to Trump's announcement that Canada would be exempt "because of the work we've been doing over the past week", it was lobbying by American states - particularly border ones - and Ontario, to Kathleen Wynne's credit, that undoubtedly did the most to bend Trump's ear.

Every other country will be required to negotiate a separate deal with U.S. Trade Representative Robert Lighthizer to avoid the duties, which are scheduled to take effect in less than two weeks.

The EU threatened an "arsenal" of retaliatory measures when the tariffs were first proposed, including imposing import tariffs on products made in red districts.

The European Union and Japan urged the United States to grant them exemptions from metal import tariffs, with Tokyo calling for "calm-headed behaviour" in a dispute that threatens to spiral into a trade war.

Brussels has pushed back hard against Washington's shock measures, loudly announcing a list of USA products it could hit with countermeasures. NAFTA's legal structure, which offers its members tariff-free access to each other's markets, was a major complication in applying the tariffs to Canada and Mexico, according to a prominent Washington trade lobbyist, who spoke on condition of anonymity due to the sensitivity of the matter.

There has been strong opposition to the tariffs from Mr Trump's fellow Republicans, who traditionally favour free trade.


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