Economy

USA defense department prefers targeted tariffs

USA defense department prefers targeted tariffs

This morning in metals news, the U.S. Department of Defense recently indicated it would prefer targeted tariffs as opposed to a blanket strategy, Australian Prime Minister Malcolm Turnbull will press President Donald Trump on an assurance a year ago that Australia would be exempted and London copper is down for the week.

Tensions have escalated between Beijing and Washington in recent months, with China reporting a record 275.8 billion USA dollar trade surplus with the U.S., contrary to President Trump's goal to narrow the United States trade deficit with China.

It argued that the proposed tariffs - at least 24 percent on all steel imports and 7.7 percent on all aluminum imports globally, or larger tariffs of 53 percent on steel and 26.3 percent on aluminum against select countries including China, Brazil, India, South Korea and Russian Federation - "would hurt downstream domestic manufacturers" by raising their costs, as well as trigger a "tit-for-tat game of foreign retaliation". The U.S. official said Trump had been discussing imposing a global tariff on imports of steel from China and other countries.

The prospect of a global tariff sent steel shares rising after hours with United States Steel Corp and AK Steel Holding Corp up more than 3 percent.

If President Donald Trump decides to move forward with targeted tariffs or quotas on steel, Mattis recommended that the labor leaders and management of the impacted industries be convened by the president so they would understand that the tariffs and quotas are conditional.

More news: NBA Award Predictions: James Harden, Paul George top the list

"No final decisions have been made".

"President Trump is committed to achieving fair and reciprocal trade relationships that protect the American worker and grow our economy", he said. Liu is the top adviser to Xi on economic policy and is also expected to become vice premier overseeing the Chinese economy.

On Feb. 16, Ross reported that steel is in fact important to US national security, and current import flows are adversely impacting the steel industry.

The news last week sent shares of American metals producers surging while stocks declined for USA consumers of the metal, like automotive makers. Trump has to make a decision on those recommendations for steel imports by April 11 and on aluminum by April 19.

Exports from China to the United States reached 1.18 million tonnes a year ago.


  • Stocks Logging Active Run: Alibaba Group Holding Limited (NYSE:BABA)

    It has outperformed by 40.63% the S&P500.The move comes after 9 months positive chart setup for the $493.51 billion company. Denver Investment Advisors Llc sold 57,948 shares as the company's stock declined 13.66% while stock markets rallied.
    Conservative Political Action Conference underway

    Conservative Political Action Conference underway

    In a series of tweets Thursday, Trump also reiterated his suggestion that some teachers be armed, calling it a "great deterrent". Marco Rubio broke with an NRA stance when he announced he would support raising the age from 18 to 21 for "buying a rifle".
    TIMELINE: Two years of Nikolas Cruz warning signs

    TIMELINE: Two years of Nikolas Cruz warning signs

    The report does not say if deputies ever contacted Cruz about the incident, or if they found any weapons. The agency determined Cruz "to be stable enough not to be hospitalized", according to the DCF report.
  • Brad Pitt's mom wants him to get back with Jennifer Aniston

    Brad Pitt's mom wants him to get back with Jennifer Aniston

    Meanwhile, Aniston was in a relationship with Theroux for seven years, two and a half of which they spent married. Rebecca Gayheart filed for divorce from actor Eric Dane after 14 years of marriage.

    Park Hotels \u0026 Resorts (PK) Loses Buy Rating

    Park Hotels & Resorts earned a daily sentiment score of 0.20 on Accern's scale. (NYSE:HST) has an average volume of 6.49 Million. A total of 1.12 Million shares exchanged hands, whereas the company's average trading volume stands at 224.51 Million shares.
    Elon Musk quits AI ethics research group

    Elon Musk quits AI ethics research group

    But now Musk has vacated his position on OpenAI's board, and it's down to the fact Tesla is focussing more and more on AI. But in a classic tale of highly popular, very rare consumer goods, the Tesla Model 3 has got to be the most famous.
  • Trade Desk (TTD) Stock Rating Reaffirmed by Wells Fargo & Co

    Trade Desk (TTD) Stock Rating Reaffirmed by Wells Fargo & Co

    In related news, CEO Jeffrey Terry Green sold 9,000 shares of the firm's stock in a transaction dated Tuesday, February 20th. The market's weak reception to The Trade Desk's third quarter aside, the tech-savvy darling has been a beast.
    NewsAlert: Canada's Sebastien Toutant wins gold medal in Olympic big air

    NewsAlert: Canada's Sebastien Toutant wins gold medal in Olympic big air

    With the inclusion of the Big Air event at the 2018 Olympic Games, Toutant was able to achieve the legendary feat. Toutant, who was a member of the Canadian Olympic team at Sochi in 2014 never came close to an Olympic podium.
    Former Trump Aide Pleads Guilty In Mueller Probe

    Former Trump Aide Pleads Guilty In Mueller Probe

    Donald Trump's former campaign deputy has pleaded guilty to conspiring against the United States government. Special counsel Robert Mueller initially charged them with a 12-count indictment last October.
  • Students, Teachers & Parents Schooled Marco Rubio and the NRA on Gun Control

    Students, Teachers & Parents Schooled Marco Rubio and the NRA on Gun Control

    Guttenberg told Rubio that his comments about the shooting "and those of your president this week have been pathetically weak". And Republican leaders in Florida indicated they'd be open to some changes after students rallied at the state Capitol.
    Amal Clooney salutes young March for Our Lives activists

    Amal Clooney salutes young March for Our Lives activists

    Hours later, veteran studio chief Jeffrey Katzenberg and his wife Marilyn also announced a $500,000 donation, according to Variety .
    Payday 2 Switch Is Nearly A Year Behind In Content

    Payday 2 Switch Is Nearly A Year Behind In Content

    For instance, the "Most Wanted" update that will come to the Switch is the update 117 for PC, which arrived some two years back. As of today, Nintendo is making that a lot easier by launching user reviews for Switch games over on the official website.