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Trump tells lawmakers he's considering tariffs, quotas

Trump tells lawmakers he's considering tariffs, quotas

Charging that the USA steel and aluminium industries were being "decimated" by dumping, Trump said he was also mulling trade sanctions against China, and was "considering all options" including tariffs.

The United Steelworkers, the country's largest industrial union, and companies that forge steel and aluminum have united in pushing for import restrictions.

The administration has another two months to decide on possible retaliatory action.

"I have no idea why the USA still feel so insecure", Geng said.

Analysts say Beijing is signalling it will take action in any tit-for-tat trade war.

On Tuesday, he met with lawmakers from top steel-producing states.

For decades Chinese leaders have been consumed with the need to - as former president Hu Jintao once put it - create "25 million jobs a year".

In speeches in May and June, Trump administration officials implied that action on steel would soon be forthcoming. He came to office vowing to be a champion of America's rust belt and said Monday he had to act to save the "empty factories" he saw on the campaign trail. "And then I call that fair trade".

The president now faces a deadline of April 11 for a decision on the steel case, and a deadline of April 20 for a similar decision on aluminum.

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"We made a much better solar panel, but we couldn't compete", Trump said.

According to U.S. statistics, as of January 2018, 222 of the existing United States trade remedies in force are for steel products, accounting for more than 50% of all trade remedy measures in the USA and covering nearly all imported steel products, Wang's statement continues.

"If we ever have a conflict we don't want to be buying steel for a country we are fighting".

Republican and Democratic lawmakers who gathered at the White House on Tuesday are generally split along party lines on the restrictions.

"Despite the rhetoric, Trump doesn't want to subvert "his" economy", Ikenson wrote this week. Trump has 90 days to take action based on the investigation's findings.

That is also true for relations with South Korea, which are already strained over Trump's saber rattling over North Korea's nuclear programme.

"As they dump steel, they pay tariffs, substantial tariffs, which means the United States would actually make a lot of money", Trump was reported as saying during a meeting with members of the U.S. Congress.

The Trump administration initiated talks to renegotiate the United States-Korea (Korus) trade agreement in July previous year, arguing it was lopsided because American's bilateral trade deficit had ballooned under it.

But in Trump's first year as president the trade deficit swelled to a record high of $375.2 billion by the US's counting.


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