Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

U.S. under Trump Series: Trump remains defiant on Trade despite pressure from Republican leadership

As American allies were spooked by prospects of 25 percent tariffs on all Steel exports to the United States and 10 percent on all Aluminum exports and they threatened with counter-tariffs and trade wars, the Republican leadership tried to persuade Trump from finalizing his announcement, which he promised to make this week. The Republicans are fearing that a trade war with tariffs on American exports to other countries might trigger a setback, which they are afraid of before the mid-term election.

The Republican majority leader at the House of Representatives, Paul Ryan said in a statement on Monday, “We are extremely worried about the consequences of a trade war and are urging the White House to not advance with this plan. The new tax reform law has boosted the economy and we certainly don’t want to jeopardize those gains" and he went on to persuade Trump to back away from his plan along with other Senior Republican members in Congress.

However, according to reports, when asked about Paul Ryan’s comments and efforts from Republican leadership to back away from his plans on trade Trump cleared that he is not backing away under any conditions and given his past actions, it is very likely that his administration is going to impose those tariffs. It is more likely that he wouldn’t just stop on Steel and Aluminum, his administration would go ahead with reciprocal taxes.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

June 19 22:00 UTC Released

NZWestpac Consumer Survey

Actual

108.6

Forecast

Previous

111.2

June 19 12:55 UTC Released

USRedbook YY

Actual

4.7 %

Forecast

Previous

4.3 %

January 31 00:00 UTC 201575201575m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 201575201575m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 213395213395m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 201575201575m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 213395213395m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 201575201575m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 201575201575m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 201575201575m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.