Trump Uses Tariffs as Threat in Nafta Negotiations

in #news7 years ago

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WASHINGTON — President Trump used his newly announced steel and aluminum tariffs to threaten two of the United States’ closest trading partners, saying in a tweet on Monday that the tariffs would only “come off” of Canada and Mexico if a new and “fair” multilateral trade pact was signed.

The statement continued Mr. Trump’s running twitter defense of the tariffs, which he has positioned as necessary to help the United States protect itself against foreign competitors. But his administration continues to sow confusion over the breath, scope and legality of the 25 percent tariff on steel and 10 percent tariff on aluminum that Mr.Trump announced last Thursday. The White House has said those tariffs would apply to imports from all countries with no exemptions.

Republican lawmakers, along with the financial markets, have been swift in their condemnation of the proposal and on Monday, Wisconsin Representative Paul D. Ryan, the House Speaker, issued his first public denouncement of Mr. Trump’s plan.

“We are extremely worried about the consequences of a trade war and are urging the White House to not advance with this plan,” Mr. Ryan said in a statement. “The new tax reform law has boosted the economy and we certainly don’t want to jeopardize those gains.”

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Nafta Negotiations is smoke and mirrors. World bound by 'Trade Facilitation Agreement'. Look it up

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