giftedviz.com
giftedviz.com June 24, 2018


Fearing trade war, European Union warns of protectionism 'dead end'

13 March 2018, 04:09 | Darnell Patrick

The EU says it will fight Donald Trump’s planned metal tariffs following the failure of talks to resolve the row

The EU says it will fight Donald Trump’s planned metal tariffs following the failure of talks to resolve the row

The ACC has asked Trump to reconsider the tariffs because they will drive up the cost of building chemical plants in the U.S.

The EU's top trade official has employed strong rhetoric as the row with US President Donald Trump over steel and aluminum tariffs heats up following fruitless talks.

Trump said in a tweet on Saturday the United States was ready to drop its tariffs if the European Union lowered its "horrific" rates on US products.

He once again threatened India and China with such a tax on March 9, saying, "We're going to be doing a reciprocal tax program at some point so that if China is going to charge us 25 per cent or if India is going to charge us 75 per cent and we charge them nothing".

Canada's Foreign Affairs minister in Mexico City talking NAFTA with her representatives from Mexico and the U.S. Freeland says she won't let American threats of revoking Canada's exemption from metals tariffs compromise our position at the negotiating table. House Speaker Paul Ryan, R-Wis., said he disagrees with the move, and other congressional Republicans are hoping to block the duties with legislative action.

The EU's executive arm hinted that the escalating rhetoric and punitive tariffs could eventually lead to a trade war between the biggest economies on the planet, which would hurt both sides. Trump's chief economic adviser, Gary Cohn, is resigning, reportedly because of his oppositions to the tariffs.

Trump left the door open to trading partners Canada and Mexico, as well as military allies, being exempt from the measures.

The EU and Japan held crunch talks with their United States counterparts in Brussels on Saturday hoping to get "clarity" on President Donald Trump's controversial new steel and aluminium tariffs. This has caused a negative reaction among many United States trading partners.

Raiders release former Utah cornerback Sean Smith
Smith got benched in his first game with the Raiders after getting burned by New Orleans' Brandin Cooks for a 98-yard touchdown. A former second-round pick by the Miami Dolphins in the 2009 NFL Draft, Smith has had several issues with the law of the years.


Scotland drop down a place in World Rugby rankings after Ireland loss
Jones though will be hoping it's roles reversed from past year when England were beaten in their final game to deny them a flawless Six Nations campaign.


Chuck Todd Responds To Trump - Vulgarity "Creates A Challenge To All Parents"
The host of " Meet The Press " used the occasion to put in a coy plug for Sunday's show. He called Todd " sleepy eyes Chuck Todd ", the report said .


As one after another foreign leader warns of countermeasures against the tariffs on steel and aluminium imports, Trump even dialled up the tone, going on to threaten to impose duties on European cars.

"Cherry-picking particular tariffs in one category, like looking just at vehicle tariffs on both sides, misses the whole picture, while not taking into account lower levels on other products does not give an accurate picture of tariffs in general", a Commission spokesman said.

In signing the order last week, the President made it clear that if Canada and Mexico made concessions during the NFTA negotiations, they would be exempted from the tariffs.

And Warner questioned whether tariffs will resurrect the U.S. steel industry the way Trump is boasting they will.

"An in-kind tariff by the United States' top ten trading partners would expose close to 42 per cent of total USA exports, leading to a widening in the trade deficit", they said.

Because of foreign competition, the Commerce Department said, the US steel industry has closed six oxygen furnace facilities and idled another four since 2000, representing more than half of such plants in the U.S. Brigitte Zypries, the German economics minister, wrote in a letter to Wilbur Ross, the United States commerce secretary, that Europe and America should work together to address the real problem: a global glut of steel production that has driven down prices.

Data last week showed that the US trade deficit had jumped to an over nine-year high in January, with the country's shortfall with China widening sharply. "It has a negative impact on the NAFTA talks".



Other News

Trending Now

Why Tesla Suspended Model 3 Production Last Month
After $-3.84 actual EPS reported by Tesla, Inc . for the previous quarter, Wall Street now forecasts 15.89 % negative EPS growth. Niederhoffer Capital Management Inc. purchased a new stake in shares of Tesla during the 3rd quarter valued at about $853,000.

Jay-Z, Beyonce tour will stop August 5 at Gillette in Foxboro
This summer, they will be touring together again, and their OTR II Tour will come to the East Rutherford stadium on August 2. Beyhive members and Tidal subscribers will also be able to purchase tickets on March 14 on Beyonce .com or Tidal .com.

Dropbox sees IPO price between $16 and $18 per share
Investors are sure to have questions for the file-sharing technology leader as it embarks on its marketing roadshow. The company's revenue increased more 30 per cent previous year to US$1.1 billion from US$845 million in 2016.

Almost half of U.S. arms exports go to the Middle East
The U.S. continues to dominate arms exports, and it has accounted for 34 percent of total arms exports over the past five years. Tensions between China and Japan in the East China Sea also saw Japan moving closer to the USA , the report said.

Microsoft Touts Progress Of Chat App Teams In Battle With Slack
This includes Surface Hub, the large-screen video collaboration device for huddle spaces and other small-to-medium meeting rooms. Additionally, she said, almost 70% of Skype for Business enterprise customers have begun using Teams .

Meghan Markle and queen make first official appearance together
Markle, who got engaged to Prince Harry in November, intends to become a British citizen following their royal wedding on May 19. According to the Daily Mail , Meghan had Prince Harry by her side as she was baptised using holy water from the River Jordan.

Oklahoma basketball: Sooner women sneak into NCAA Tourney as a 12 seed
The Syracuse women's basketball team is headed back to the NCAA Tournament as a No. 8 seed. If Oklahoma wins on Friday, it will play the victor of No. 4 Texas A&M and No. 13 Drake.

Naresh Agarwal joins BJP after SP gives RS ticket to Jaya Bachchan
However, his comments regarding Jaya Bachhan ji are improper and unacceptable", she posted on the micro-blogging site Twitter. However, his new party warned him that they did not like the comment made by him on actress Jaya Bachchan .

Goldman Sachs signals likely CEO pick as it shifts strategy
However, Goldman Sachs has not commented on that report and its statement on Monday made no mention of Blankfein's plans. The question of who will next lead the iconic Wall Street firm Goldman Sachs appears to be getting close to an answer.

Myanmar: UN expert calls for accountability over violence
Meanwhile, Myanmar and Bangladesh have signed a repatriation deal, though it has not begun yet. At least three new such facilities are reportedly under construction.