Trump hits U.S. allies with new trade pain in one-day whirlwind




  • In US
  • 2019-12-03 01:31:18Z
  • By Reuters

WASHINGTON, Dec 2 (Reuters) - President Donald Trump released a clutch of protectionist trade actions on Monday aimed at long-time U.S. allies, including some countries that have been close to the Trump administration.

The president started by announcing tariffs https://www.reuters.com/article/us-usa-trade-trump/trump-citing-us-farmers-slaps-metal-tariffs-on-brazil-argentina-idUSKBN1Y614O on steel from Brazil and Argentina in a tweet, citing U.S. farmers who he said were being hurt by a "massive devaluation" of those countries' currencies. Brazil and Argentina are both big exporters of agricultural products.

Chinese companies have slashed their purchases of U.S. farm goods since the United States started its trade war with China 17 months ago. Both Brazil and Argentina have been trying to strengthen their currencies, despite Trump's claim.

An Argentinian minister called the tariffs "unexpected." Brazil's main steel lobby said it was "perplexed." The move could drive Brazil to tighter trade ties with China, analysts said.

Then the United States Trade Representative said it would review https://www.reuters.com/article/wto-aircraft-usa/us-says-may-raise-tariffs-on-eu-products-in-aircraft-subsidy-row-idUSL1N28C172 hiking tariffs on European Union products and adding new ones, because of what it called "lack of progress" in resolving a dispute over aircraft subsidies.

The USTR said a decision by the World Trade Organization on Monday affirmed the U.S. position that European subsidies to planemaker Airbus continue to harm the U.S. aerospace industry. It did not provide specifics on what tariffs it might hike over the long-running dispute.

Finally, after the U.S. markets closed, the USTR said it planned to increase taxes https://www.reuters.com/article/us-usa-trade-france/us-vows-100-tariffs-on-24-billion-of-french-products-over-digital-services-tax-idUSKBN1Y62HC on $2.4 billion in French products including Champagne and handbags by 100%, after determining that France's new digital services tax would harm U.S. companies like Alphabet Inc's Google and Apple Inc.

The USTR said the government was also exploring whether to open similar investigations into the digital services taxes of Austria, Italy and Turkey.


(Writing by Heather Timmons Editing by Leslie Adler)

COMMENTS

More Related News

Trump wears mask while visiting wounded soldiers, medical workers at Walter Reed hospital
Trump wears mask while visiting wounded soldiers, medical workers at Walter Reed hospital

Trump, who has been criticized for not wearing a mask at public events, donned one while visiting wounded soldiers at Walter Reed hospital

Trump wears mask in public for first time during pandemic
Trump wears mask in public for first time during pandemic
  • World
  • 2020-07-11 21:43:35Z

President Donald Trump wore a mask during a visit to a military hospital on Saturday, the first time the president has been seen in public with the type of facial covering recommended by health officials as a precaution against spreading or becoming infected by the novel coronavirus. Trump flew by helicopter to Walter Reed National Military Medical Center in suburban Washington to meet wounded servicemembers and health care providers caring for COVID-19 patients. As he left the White House, he told reporters: "When you're in a hospital, especially ... I think it's a great thing to wear a mask."

Romney, breaking with GOP, criticizes Trump for commuting Roger Stone
Romney, breaking with GOP, criticizes Trump for commuting Roger Stone's prison sentence

The Utah Senator was the first prominent voice in the Republican Party to publicly disavow the president's decision to erase Stone's prison sentence.

'Ashamed' Trump 2016 Voters Explain Why They're Ditching The President

Republicans who voted for Trump say they are "riddled with guilt" in the spot set to air on Fox News.

Trump Says U.S. Will Review Universities
Trump Says U.S. Will Review Universities' Tax-Exempt Status

(Bloomberg) -- President Donald Trump ordered the Treasury Department on Friday to review the tax-exempt status of colleges and universities, following his threats to cut federal funding to schools that do not reopen due to the coronavirus pandemic.The president's attack on institutions of higher education

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: US