Australia not exempted from Trump tariffs

Top Republican Paul Ryan has urged President Donald Trump to dump his planned tariffs

Top Republican Paul Ryan has urged President Donald Trump to dump his planned tariffs

During the Sunday talk show rounds, White House trade adviser Peter Navarro said some industries could get exemptions.

The White House has said no countries will be exempt from US President Donald Trump's tariffs on steel and aluminium - not even "friends" like Australia.

In a post on Twitter, Trump cited a "big imbalance" between the two countries, said if the 28-nation bloc insisted on imposing punitive taxes on USA goods, America would strike back on European vehicle exports. "I want to know what Mr Turnbull's doing to protect tens of thousands of fair dinkum everyday jobs", opposition leader Bill Shorten said.

The president spoke after a spokeswoman for House Speaker Paul Ryan said the speaker was "extremely worried" about the consequences of a trade war and urging the White House not to advance the plan. But it's not in Canada's interest or Mexico's interest, I think, however tempting it might be in terms of immediate gratification, to say "enough is enough" and walk away.

"As soon as you start exempting countries you have to raise the tariffs on everybody else. He beat every one of them", Navarro said.

The new U.S. action deals a heavy blow to South Korean steel companies, which now need to work together to minimise the impact by raising competitiveness and diversifying export markets.

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U.K. Prime Minister Theresa May expressed her "deep concern" with Trump's proposal during a phone call Sunday. He recently published the book "Clashing Over Commerce: A History of U.S. Trade Policy".

European Commission President Jean-Claude Juncker said the E.U will put tariffs on "Harley-Davidson, on bourbon and on blue jeans - Levis", according to Reuters.

Trump ratcheted up the rhetoric on Saturday, threatening a tax on cars from the European Union if it takes retaliatory measures. He rejected threats of retaliation from American allies as "pretty trivial". In our size economy, that's a tiny, tiny fraction of 1 percent. "While it might affect an individual producer for a little while, overall it's not going to be much more than a rounding error".

Trump has been hammering the German auto industry since before taking office, incensed at their move to expand production in Mexico and threatening them with a 35 percent tariff on any cars brought into the United States.

"The United States has an $800 Billion Dollar Yearly Trade Deficit because of our "very stupid" trade deals and policies". We must not let our country, companies and workers be taken advantage of any longer.

In 2017, the USA imported $151 billion more in goods from Europe than it exported to European Union countries.

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