European Union treats United States 'very badly on trade'

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Virtually all economists of all stripes agree that the president has it exactly wrong.

When China adopted the policy of everything "made in China 2025", it was declaring a trade war. "I don't know any respected economist, conservative or liberal, who thinks this is the right approach to promoting prosperity".

Brussels has already announced a list of U.S. products it could hit with countermeasures - including oranges, tobacco, peanut butter and bourbon - if its exports are affected by the tariffs, with European Commission head Jean-Claude Juncker saying the EU could match "stupid with stupid". And President Trump has undoubtedly been a lighting rod for partisan squabbling.

Critics point out that the tariffs will do more harm than good to the overall United States economy. "We need a trade policy that's comprehensive".

In a flagrant attempt to paint President Trump as the global bad guy the EU Commission's President Jean-Claude Juncker talks tough by announcing how his Customs Union will raise tariffs on particular USA goods - while intentionally ignoring how EU tariffs already punish United States imports. He shows little concern for the organisation that's in place to ensure global trade is fair and that the agreements put in place in free trade deals are adhered to.

Between 2000 and 2016, the US trade balance with its FTA partners (including Mexico) has improved by $30 billion while the trade deficit with other countries has ballooned.

The EU has been talking with partners about a legal challenge at the World Trade Organization to Trump's plan and is considering safeguards to prevent steel and aluminum, diverted from the United States, flooding into Europe.

In the end, Trump's tariffs might help him win the battle for Ohio, Michigan, Pennsylvania or Wisconsin, but they will lose him the war in terms of trade.

"This thing is going to drag into the summer and into the fall", Schwebel said. John Thune of South Dakota.

Republican Senators Ron Johnson (Wis.) and Cory Gardner (Colo.) both signaled support on Sunday for Flake's bill to stop the tariffs, though Johnson cautioned it would not likely get enough votes to override a presidential veto. Today, China produces more steel than the next nine steel-producing nations combined.

"The burden of these tariffs, as always, will be passed on to the American consumer", said Cody Lusk, president and CEO of the American International Automobile Dealers Association. Protectionism is weak, not strong.

But the Trump administration doesn't speak with one mind on trade.

Turnbull went a step further, telling reporters in South Australia on Saturday that he was "very pleased the President was able to confirm that he would not have to impose tariffs on Australian steel and aluminum". The same firm looked at Trump's proposal and concluded: "More than five jobs would be lost for every one gained".

President Donald Trump's announcement of duties of 25 percent on imported steel and 10 percent on aluminum has stung the European Union, along with other major partners including Japan, whose Economy Minister Hiroshige Seko also attended the talks in Brussels.

Her words echo those of Mexican Economy Minister Ildefonso Guajardo who said last week Mexico also believed the steel tariffs had nothing to do with the NAFTA talks.

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