The world turns on Trump over tariffs

[DonViejo]

From Brussels to Tokyo to Capitol Hill, the White House faces backlash over its steel and aluminum duties.

By MEGAN CASSELLA 03/11/2018 03:43 PM EDT

President Donald Trump ratcheted up the economic pressure on the European Union over the weekend, threatening to turn allies into enemies at home and abroad with his trade pronouncements.

The decision to slap hefty tariffs on imports of steel and aluminum, which the White House made formal on Thursday, has roiled international markets, angered longtime trading partners and prompted threats from the president’s own party to stop the tariffs through legislation.

At the same time, Trump’s decision to exempt Canada and Mexico and allow other countries to avoid the penalties if they negotiate a deal to address U.S. national security concerns has set off a high-stakes rush among nations eager to avoid the penalties but unclear on what, exactly, the U.S. wants in return.

Trump stoked the fire on Saturday by suggesting even broader tariffs for the EU if they don’t address still-unspecified concerns.

“The European Union, wonderful countries who treat the U.S. very badly on trade, are complaining about the tariffs on Steel & Aluminum,” he posted on Twitter. "If they drop their horrific barriers and tariffs on U.S. products going in, we will likewise drop ours. Big Deficit. If not, we Tax Cars etc. FAIR!" he tweeted.

The tweet — on top of the imposition on Thursday of sweeping 25 percent tariffs on steel imports and 10 percent tariffs on aluminum imports — provoked deeper consternation.

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https://www.politico.com/story/2018/03/11/trump-tariffs-trade-international-405685