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Here Are The Full Details Of The “Negotiable” Tariffs Trump Will Enact

Tyler Durden
March 8th, 2018
Zero Hedge
Comments (20)
Read by 2,550 people

This report was originally published by Tyler Durden at Zero Hedge

While much of what Trump is announcing today has already been leaked, here are the details of the import tariffs Donald Trump formally adopted on steel and aluminium imports which allow US allies to negotiate and apply for exemptions, a sign of the growing concern that the president was alienating America’s closest international partners, and that 2 of the 4 largest foreign suppliers of steel will be exempt.

The tariffs will come into force within 15 days and are expected to draw retaliation from the EU and other steel producers and heighten fears of a descent into a trade war.

Here are the highlights from Reuters:

  • TRUMP TO ANNOUNCE ON THURSDAY IMPORT TARIFFS OF 25 PCT ON STEEL, 10 PCT ON ALUMINUM STARTING IN 15 DAYS -SENIOR ADMINISTRATION OFFICIAL
  • U.S. OFFICIAL SAYS CANADA AND MEXICO TO BE EXEMPTED FROM TARIFFS FOR UNDETERMINED PERIOD; CONTINUATION OF EXEMPTION DEPENDS IN PART ON PROGRESS IN NAFTA TALKS
  • TRUMP’S TARIFF PROCLAMATIONS TO INCLUDE PROVISION TO CONSIDER ‘ALTERNATIVE WAYS’ TO ADDRESS THREAT TO U.S. NATIONAL SECURITY CAUSED BY OTHER NATIONS’ STEEL, ALUMINUM EXPORTS -OFFICIAL –
  • U.S. TRADE REPRESENTATIVE LIGHTHIZER TO HANDLE DISCUSSIONS WITH OTHER COUNTRIES ON ALTERNATIVE REMEDIES TO ‘FLEXIBLY MODIFY’ TARIFF PROCLAMATIONS -OFFICIAL
  • MAY HAVE TO RAISE TARIFFS ON OTHER COUNTRIES IF CANADA, MEXICO EXCLUDED; CAPACITY USE TARGETS MUST BE MAINTAINED -OFFICIAL
  • TRUMP OFFICIAL DECLINED TO SPECIFY ALTERNATIVES THAT OTHER COUNTRIES COULD SEEK TO AVOID STEEL, ALUMINUM TARIFFS

And the details, from Bloomberg:

Steel tariff to be set at 25%, aluminum at 10%

  • Beyond that, proclamations almost identical
  • To take effect in 15 days
  • Official says may have to raise tariffs modestly on everyone else if Canada, Mexico excluded long-term; adds document flexible enough to allow that

On exclusions:

  • Canada, Mexico will be specifically exempted from both tariffs initially
    • Trump has linked the exemptions to Nafta talks ongoing; exemption isn’t open-ended, official says
  • For other countries, will have ability to modify order owing to national security
    • European countries and others could be able to request exclusion

On economic impact:

  • White House official says there will be no significant downstream price effects, and thus no significant downstream job effects
    • Expectation counters multiple statements and prognostications from several companies and industry groups that use steel and aluminum, as well as lawmakers representing them, who have warned the tariffs will harm their businesses or industries
  • Only job effects White House sees are positive ones in U.S. steel, aluminum industries: official
  • Says process extremely, carefully well vetted

In short, tariffs but with notable exemptions, which begs the question: why did Gary Cohn quit again?

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Author: Tyler Durden
Views: Read by 2,550 people
Date: March 8th, 2018
Website: https://www.zerohedge.com/

Copyright Information: This content has been contributed to SHTFplan by a third-party or has been republished with permission from the author. Please contact the author directly for republishing information.

20 Comments...

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  1. Genius says:

    CHARGE CALIFORNIA A TARRIFF OF 1 MILLION DOLLARS FOR EVERY AHOLE THAT MOVES TO ANOTHER STATE! Those piles of sheet have fooked up many states and we need to make them pay or SEND THEM BACK! True conservatives excluded. Colorado, Idaho, Nevada, Oregon, Arizona, Montana, Wyoming, Washington, need to round these assplants up and deport them! Conservative constitutionalists can stay. That should be about 5 million or so rejects deported! GIT ER DONE!

    • Plan twice, prep once says:

      Charge California for all the water they bring in cross border. Liberal mismanagement has depleted their Aquifer. Like South Africa they are bankrupt, morally and water wise. On the simplest levels, they are such maroons.

      • Genius says:

        Yes water too! Just cut them off period! I forgot to add Utah needs to get rid of those fags too. These waste of air and resource commies have driven up local housing/land prices beyond what the locals can afford and gotten into politics and screwed everyone! You can’t hardly go out in the woods anymore for the cabins etc. built by commie californicators! Land is off limits to fun because these a-holes lobby to protect shit. GOD DAMM PRAIRY DOGS ARE ENDANGERED? They are destroying farms, ranches, etc.! I know it is my duty to protect peoples property but if it’s a califag, I might get sick all of a sudden.

        • Concerned-Citizen! says:

          Genius: I agree with you! These mentally defective liberals, queers and he-she’s just all need to HANG!! They are completely ruining what is left of the United States period.
          This Gov’t is out of control and has failed us completely. All the vile gov’t wants to do is run your damn life for you, take about 50% of your damn paycheck – if you even have a job or bother to work and on and on. My God, can you do anything that is not banned or illegal or taxed or has a host of fees associated?? Think about it people. . .

  2. cranerigger says:

    Europe, like many other regions have taken financial advantage of the USA for decades. To any country seeking penalties to the USA for tariffs – don’t even think about it. The consequences will be much worse for those that try to punish us.

  3. southside says:

    Charge California one million dollars for every illegal we deport. Plus transportation fees to the country of origin

  4. RandomTangent1957 says:

    Let California succeed from the USA & call it good. They can then be a sanctuary state to all the shit hole countries refugees they want. I will buy plenty of beer & chips so I am ready to watch the whole thing collapse & hopefully fall into the Pacific ! Man… would that solve a lot of problems ..LOL !

  5. Heartless says:

    We need to be 100% self-supporting when it comes to all critically important metals and any other material need to remain a free nation. This tariff does not go far enough in my opinion. In addition to it, we need to rule illegal the sale of any land/property or manufacturing facility to a foreign citizen. They’ve used the money they’ve manipulated into their hands from us to purchase pieces of this country. That too needs to be not only stopped; but, completely turned around. We don’t need to be allowing their children to be educated here either. I want these bastards out of the US. Completely. If you’re not an American and are here – you’re just a tourist. Spend your money on some Disney ticket and then go home.

  6. Orion says:

    Sry Trumptards… He’s a day late and a steel beam short… And what the fuck does Cali have to do with trade tariffs??? Man… you people need to quit huffin cheap spray paint and stay the fuk on point.

  7. Yahooie says:

    Yes, this link is from the steel industry but does provide some insight into what it is facing globally. See p. 4-5.

    https://www.steel.org/~/media/Files/AISI/Reports/2016-AISI-Profile.pdf

    This link is to a WTO map that illustrates tariffs globally (among other things). You can easily see that our trade policies have been pretty easy compared to almost anywhere else in the world.

    https://www.wto.org/english/res_e/statis_e/statis_maps_e.htm

    Do I think tariffs will help? No idea. I’m not a macro economist nor do I play one on TV. I only control my home economy and practice no debt, careful purchasing, etc.

  8. Bert says:

    I want every employer, every governmental employee that had contact with illegals, and every elected official, even mayors and shithole councilmen, to be convicted of treason against the United States for not demanding the immigration laws that are on the books to be fully enforced. [rhetorical] What is the penalty for treason against the USA during wartime [been at war now for decades]

  9. Beaumont says:

    They will just come into practice, negotiably.

  10. Fedupwithpoliticians says:

    The people in government need to go. How long have some of them been in there and done nothing but cheat taxpayers. I am tired of paying taxes to support them. They are criminals .

  11. Old Guy says:

    Im all for the Tarriffs. Anything that benefits a USA based Producing Maker no matter who they are is a step in the right direction.

  12. Actually…a tariff is nothing more than a tax on the American people. If we impose a 25% tariff (tax) on steel imports, then we will pay 25% more for that imported steel. Who pays that.? Retaliation means they impose an even larger tariff (tax) on our exports. And thus a trade war ensues. And the real pain will be felt by all.!!!!

 

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