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Paul Ryan Leads Establishment Fear Campaign Against Trump's National Security Metal Tariffs

Paul Ryan Leads Establishment Fear Campaign Against Trump's National Security Metal Tariffs

"Simply put: This is a tax hike on American manufacturers, workers and consumers".

Undeterred by the resignation of his senior economics adviser and pleas from more than 100 Republican lawmakers not to go through with the tariffs, Trump signed into law tariffs of 25 percent on steel and 10 percent on aluminum. And while the Democratic base demands party lawmakers defy Trump at every turn, Brown sees his stance on trade as central to his own identity.

"We want to limit as much unintended consequences and collateral economic damage as possible". Freedom Partners' executive vice president weighed in: "In no way will tariffs lead to a more competitive economy, nor will they add thousands of American jobs".

Come to think of it, why did all these Republicans - who heard Trump's anti-immigrant and anti-free trade message over and over again in the campaign - not believe him? S&P Global Platts estimates that only 2% of steel imports into the United States come from China.

"I am pleased that the president has listened to those who share my concerns and included an exemption for some American allies, but it should go further", Ryan said.

An economics professor interviewed by ABC News provided a picture of what might be expected from the tariffs.

More news: Land Securities Group (LON:LAND) Given Underweight Rating at Barclays

"I think we're going completely the wrong direction", Flake said.

The people briefed on the plans say all countries affected by the tariffs are being invited to negotiate for exemptions, if they can address the threat their exports pose to the U.S. They believe that the tariffs could stimulate a trade war between the USA and China. Mike Lee, R-Utah. He introduced legislation in January that would amend a 1974 trade law to require the president to get congressional approval before making any major trade policy moves, including imposing new tariffs. "The Department of Defense assesses that its programs are able to acquire all the steel and aluminum necessary to meet national defense requirements".

Companies may claim that Trump's use of the national security rationale is inconsistent with his protectionist public statements, and therefore is an illegitimate use of Section 232, said Raj Bhala, a specialist in global trade law at Kansas University School of Law.

"This welcome action is long overdue for shuttered steel plants across OH and steelworkers who live in fear that their jobs will be the next victims of Chinese cheating", Brown told Reuters earlier this month.

Sources outside the White House say President Donald Trump's tariffs on steel and aluminum imports will take effect in 15 days, with Canada and Mexico indefinitely excluded from the duties.


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