Canada to Get Temporary Exemption From Tariffs


"If you don't want to pay tax, bring your plant to the United States of America", he said.

Universal Steel is a full-service fabrication shop with anywhere from 35 to 175 employees that does work for local, state and federal government, as well as the oil and mining industry. So far, the Trump administration has loosely tied the exemptions to negotiations over the North American Free Trade Agreement and said a failure to renegotiate it could end the special treatment. "The focus is on the broader security relationship, where we can address ensuring national security and eliminate any impairment whatsoever". A White House official said Trump was referencing an ongoing investigation of China in which the USA trade representative is studying whether Chinese intellectual property rules are "unreasonable or discriminatory" to American business.

"This is not a softening of our position in any way whatsoever", insisted the administration official in a call with reporters that was conducted on the condition of not being named.

Michael O'Rourke, Chief Market Strategist at JonesTrading in Greenwich, Connecticut was still concerned about how Trump's policies could affect global trade.

The measure will kick in 15 days from Thursday, on March 23. And Trump took note of US Steel's announcement that it planned to ramp up activity at its plant in Granite City, Illinois, and recall about 500 employees because of the new tariffs.

Known as the Comprehensive and Progressive Agreement (CPTPP), it replaces the Trans-Pacific Partnership (TPP) from which Trump withdrew the United States.

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"This has been a true Team Canada effort", said Foreign Affairs Minister Chrystia Freeland, also crediting provincial premiers, businesses and labour leaders. "Tariffs are taxes, and the American taxpayer will pay the cost of a trade war", said Cody Lusk, president and CEO of the American International Automobile Dealers Association.

According to Forbes, "Steel and aluminum are vital for US national defense and critical infrastructure", said Robert E. Scott of the Economic Policy Institute, a left-of-center think tank, in a piece supporting the idea.

The beer industry makes its cans out of aluminum.

At the White House, an upbeat Trump chatted with steelworkers, invited them to the Oval Office and autographed a hard hat. In a tweet, he said the " acting swiftly on Intellectual Property theft". He urged companies to buy American steel and thus avoid import tariffs. "The China problem is simply a massive, massive overcapacity that China has built up in both aluminum and steel". On the very day the deal was signed, Fast praised the salvaging of the Trans Pacific Partnership with 10 other nations - including Japan, Australia and Mexico - that was put in jeopardy when the US pulled out a year ago. "This is going to be a key part of one of the long-term objectives that the president has".

"We're going to be very fair, we're going to be very flexible but we're going to protect the American worker as I said I would do in my campaign", Trump said during a Cabinet meeting.

Republican Senator John Cornyn of Texas told VOA he believes Trump has heard the voices who expressed concern about imposing the tariffs, but "the president's got some pretty fixed ideas about trade, and obviously he ran on those and, I think, feels obligated to follow through on his campaign promises".