The republican leadership has issued some vague threats against President Trump’s initiative to implement a 25% and 10% tariff against steel and aluminum imports, respectively.
President Trump used the Trade Expansion Act of 1962 to announce the tariffs to protect national security, which the law grants the President the authority to implement.
Trump announced the move during a meeting with steel and aluminum executives, though the policy he announced is not yet ready to be implemented. He acknowledged the policy is “being written now.”
“We’ll be signing it next week. And you’ll have protection for a long time in a while. You’ll have to regrow your industries, that’s all I’m asking,” Trump said during the meeting. “What’s been allowed to go on for decades is disgraceful. It’s disgraceful. When it comes to a time where our country can’t make aluminum and steel … you almost don’t have much of a country.”
Foreign Retaliation Against the Trump Announced Tariffs
There was some talk that their was hope that the president may be exempting some countries from the tariffs due to friendlier relations with the United States. On the Sunday talk shows, White House trade adviser Peter Navarro quashed those speculations. “There will be no country exclusions,” Navarro said.
Canada, which obtains much of its steel from Chinese dumping, said it will retaliate against the United States’ use of tariffs against its products.
China has used and abused the extremely lax trade rules between the United States and Canada under the existing North American Free Trade Agreement (NAFTA). Canada has willingly continued this relationship to benefit themselves massively by refining the metal for consumption by manufacturing within the United States.
The Chinese dumping of their steel products has been a known problem worldwide for years, which they have used to suppress local markets. The situation is similar to the Saudi government attempting to strangle fracking companies in the United States by driving oil prices lower with overproduction of oil from their state owned oil companies.
China has issued retaliatory threats against the United States as the news of the tariffs hit the media. The countries spokespersons hypocritically attempted to ignore their own extremely protectionist policies in their attacks on the announcement.
However, after their initial protestations, China’s Vice Foreign Minister Zhang Yesui says the country “does not want a trade war with the United States.” He warned that his country will “not sit idly by and watch China’s interests being harmed.”
Trump Faces Opposition From the Republican Leadership
Now, with the reality of a tariff on their products, the Trump administration is facing some severe headwinds from the globalist free trade cult aligned politicians within the Republican party.
JUST IN: Republican leaders say they aren’t ruling out action in response to the threatened Trump tariffs on steel and aluminum.
Steven Portnoy (@stevenportnoy) March 5, 2018
What is the party leadership going to enact to stop President Trump?
They are going to issue a strongly worded letter.
“We are extremely worried about the consequences of a trade war,” says a spokeswoman for House Speaker Paul Ryan. She said that the leadership is “urging the White House not to advance” with the tariff plan.
Commerce Secretary Ross told NBC News on Sunday that he has does not believe the president will change his mind. “The president has announced that this will happen this week. I have no reason to think otherwise,” he said.