Tag: trade policy

President Trump said on Monday there may be exceptions for some countries on reciprocal tariffs.

These developments come at a time when the global trading system has been shaken up by US President Donald Trump’s greater use of tariffs, including employing Section 232 legislation to impose a 25% levy on steel from all countries to protect national security.

The European Commission unveiled A European Steel and Metals Action Plan aimed at safeguarding the European Union’s steel and base metals production.

President Trump said he has no plans to create exemptions on the recently enacted steel and aluminum tariffs, according to media reports.

International trade attorney Alan Price sat down with SMU to unpack the latest developments in Trump’s tariff merry-go-round.

The United States has officially reinstated undiluted Section 232 tariffs on steel and aluminum as of Wednesday, . All imports of the metals, as well as some derivative products, now face a 25% tax when entering the US.

Don't forget that Trump's reinstatement of the Section 232 tariffs on steel and aluminum imports is slated for Wednesday, March 12.

“It is completely shocking for the United States to treat a long-time and fair trading partner in this manner,” the Canadian Steel Producers Association said.

Increased protectionism is expected to continue to drive up steel prices in the US and Europe.

On Thursday morning, Trump posted on Truth Social about Canada and Mexico: “the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect, as scheduled.”

The Leveling the Playing Field Act 2.0 has been reintroduced into both houses of Congress

Tuesday, March 4, marks the end of a 30-day delay in the levies.

The Trump administration has revealed the list of derivative steel products being added to the Section 232 tariff list.

President Donald J. Trump signed a Presidential Memorandum announcing the “Fair and Reciprocal Plan” for trade on Thursday. This would eventually see the levying of reciprocal tariffs on trading partners after a trade analysis for each country is conducted.

While Canada and Mexico bent the knee to push tariff implementation out another month, the US on Tuesday instituted an additional 10% tariff on Chinese goods.

Steel and aluminum have been identified as high priorities for trade

Mexican steel trade association Canacero said steel exports from the Latin American country into the US do not pose a threat. And claims that Mexican steel exports have been the driver of US plant closures and layoffs are “unfounded,” the association said. “On the contrary, the US greatly benefits from steel trade flows and has […]

This may be the most consequential six months for trade policy in recent memory. The wait to see what form Trump's actions take is almost over.

It feels a little like déjà vu: Trump threatens tariffs, Canada retaliates with tariffs of its own.

The Trump administration may be considering alternative tariff plans, but Trump said the report is "Fake News."

The chief executive of U.S. Steel has come out against President Biden’s decision to block the USS/Nippon Steel deal, calling it “corrupt.”

President Joe Biden has blocked Nippon Steel's proposed buy of Pittsburgh-based U.S. Steel, citing national security reasons.

“New commodity-specific tariffs, mainly on steel and aluminum products, could widen price differentials and divert trade flows,” the credit agency forewarned.

The world has had a few shocks recently. The CEO of a major health insurance company was gunned down in Manhattan. The 50-year Assad dynasty in Syria was pushed out less than two weeks after rebels started an offensive. And President-elect Trump is promising tariffs on everything a month before he takes office. But one shock has been taking place for a lot longer than the last few weeks. The 70-year consensus on trade hasn’t just been challenged. It’s been repudiated.

The president-elect has wasted no time in using the threat of tariffs to reopen negotiations and, ideally, score other political wins along the way.

The BRICS countries of Brazil, Russia, India, and China, and South Africa met last month, along with several other associated nations. Among the topics discussed was the potential establishment of an alternative world currency to compete with the US dollar.

President-elect Donald Trump announced that Peter Navarro will serve as his senior counselor for trade and manufacturing.

“We are under constant threat from nonmarket economies who evade our trade laws," SMA said.

President-elect Donald Trump has nominated attorney and US Air Force Veteran Jamieson Greer to be the next US Trade Representative (USTR).

Are you still recovering from the election? If so, please get plenty of rest. Next year will require you to be awake and alert. Things are likely to change. We can’t be sure exactly how they will change yet.