Friday, March 16, 2018

Daily Updates

Advisers: Trump serious on tariffs

But Sen. Graham warns president he’s making ‘a huge mistake’ 

  • Trade-Politics

    President Donald Trump listens during a meeting with steel and aluminum executives in the Cabinet Room of the White House, Thursday, March 1, 2018, in Washington. Trump's announcement that he will impose stiff tariffs on imported steel and aluminum has upended political alliances on Capitol Hill. (AP Photo/Evan Vucci)

    Evan Vucci

  • China-Trade-Troubles-2

    A worker loads steel products onto a vehicle at a steel market in Fuyang in central China's Anhui province Friday, March 2, 2018. China has expressed "grave concern" about a U.S. trade policy report that pledges to pressure Beijing but had no immediate response to President Donald Trump's plan to hike tariffs on steel and aluminum. The Commerce Ministry said Friday that Beijing has satisfied its trade obligations and appealed to Washington to settle disputes through negotiation (Chinatopix Via AP)


  • Trump-Steel-and-Aluminum-3

    The logo for U.S. Steel appears above a trading post on the floor of the New York Stock Exchange, Friday, March 2, 2018. President Donald Trump on Friday insisted "trade wars are good, and easy to win," a bold claim that will likely find many skeptics, including those on Wall Street and even some Republicans. (AP Photo/Richard Drew)

    Richard Drew

  • Germany-US-Steel-Trade-4

    A light turned red in front of the Krupp Mannesmann steel factory in Duisburg, Germany, Friday, March 2, 2018. U.S. President Donald Trump risks sparking a trade war with his closest allies if he goes ahead with plans to impose steep tariffs on steel and aluminum imports, German officials and industry groups warned Friday. (AP Photo/Martin Meissner)

    Martin Meissner


    RossSecretary of Commerce Wilbur Ross addresses an US-Kuwait economic forum at the Chamber of Commerce on Sept. 6, 2017 in Washington, D.C. (Olivier Douliery/Abaca Press/TNS)


WASHINGTON — Administration officials signaled Sunday that President Donald Trump is determined to impose punishing tariffs on imported steel and aluminum, brushing aside an outcry from foreign allies, U.S. manufacturers, Republican lawmakers and some advisers that he may ignite a damaging trade war.

Trump’s commerce secretary, Wilbur Ross, and White House trade adviser Peter Navarro, the apparent winners of an internal administration battle over the issue, said that they expect the president to follow up swiftly on his announcement Thursday that he would invoke a little-used legal provision to singlehandedly impose duties of 25 percent on imported steel and 10 percent on aluminum.

“We expect probably by the end of the week it will be signed,” Navarro said on CBS’ “Face the Nation.”

Navarro and Ross each suggested Trump was unlikely to exempt allied countries from the tariffs despite national security concerns raised by some of his advisers. The president has instead invoked national security as a reason to press ahead.

“As soon as he starts exempting countries (from the tariffs), he has to raise the tariff on everybody else,” Navarro said on “Fox News Sunday.” Making trade allowances for good friends, he contended, was impractical: “As soon as he exempts one country, his phone starts ringing from the heads of state of other countries.”

Ross, on ABC’s “This Week,” said he believed Trump was “talking about a fairly broad brush” in applying the tariffs. “I have not heard him describe particular exemptions yet,” he said.

The president, who often doubles down in the face of criticism, has seemingly been unmoved by allies’ warnings that they would be forced to retaliate. More admonitions came in Sunday, as the British Embassy reported that Prime Minister Theresa May spoke with Trump by phone and raised “deep concern” over the tariffs.

May told Trump that “multilateral action was the only way to resolve the problem of global overcapacity in all parties’ interests,” according to the British statement. The White House did not immediately offer its own account of the conversation between the two leaders, whose relations have suffered periodic strains despite the long-standing friendship between the United States and Britain.

In a series of Twitter posts, Trump has seemingly relished the idea of trade clashes, even with close allies such as Canada, South Korea and members of the European Union. On Saturday, he suggested that automobiles might be the next targeted trade sector.

“If the E.U. wants to increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S.,” he wrote on Twitter.

On Friday, a day after divulging the tariff plan, the president said trade wars are “good and easy to win,” a position that economists across the political spectrum dispute.

Navarro, on “Face the Nation,” dismissed the notion that the plan’s abrupt rollout had been a slapdash, off-the-cuff affair. “This is a serious decision,” he said. “The president wanted to make a measured decision.”

Yet just before the president’s remarks on Thursday, which he made in a meeting with steel industry chiefs, Trump’s chief economic adviser, Gary Cohn, and other aides opposed to the tariffs were assuring reporters and administration allies in business and Congress that Trump would not act.

Sen. Lindsey Graham, R-S.C., offered a blunt public message to Trump Sunday: “You’re making a huge mistake.”

On CBS, Graham said China — the tariffs’ ostensible target, to punish Beijing for metals dumping — would feel little economic impact because it accounts for only a very small share of steel and aluminum imported into the U.S. American allies including Canada, the European Union, Japan and South Korea are more significant exporters.

At the same time, Graham said, the Chinese leadership might take offense at the move, even as Trump is seeking Chinese help in reining in North Korea.

Trump has insisted that tariffs will not only help boost the aluminum and steel industry, but also generate more manufacturing jobs. That claim has been met with skepticism in the business community and by many analysts who predict a net job loss and damage to the overall U.S. and world economy as a result of the tariffs and other measures.

Sen. Chris Murphy, D-Conn., said on ABC that a trade fight with Europe would be a “gift to Russia” because it would weaken important alliances.

“There are times when targeted sanctions are necessary, but you have to recognize that none takes place in a vacuum,” Murphy said.

Sen. Angus King, an independent from Maine who generally sides with Democrats, made a similar point on NBC’s “Meet the Press.”

“You can’t make a change of this significance and assume that nothing else is going to happen as a result,” King said.

Tribune News Service

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