US Trump to place tariffs on steel from Brazil and Argentina

The US President Donald Trump has said he will place tariffs on steel and aluminium imports from Brazil and Argentina. He commented the trade situation on Monday  before leaving for the Nato meeting to London. According to him, the weak currencies had made it harder for US food exports to compete.

The trade talks with China are also having delays due to the Hong Kong democracy and human rights bill the President Trump signed last week. According to him, the HK law have complicated the talks with China. China has said that the US Navy cannot enter the Hong Kong ports at the moment.

The city of Hong Kong also revealed some retail sales figures, which show the six months demonstrations have caused the city retails sales massive drops. For example the retail sales dropped 24,3 % in October, while the figures were – 18,2 % and -22,9 %  in September and August.

The trade talks with US China are having deadline next week on the 15th December before the new trade tariffs come into force. The US Administration has said that more tariffs will be placed if no deal is reached with China before the deadline.

Business Finance

US to end steel and aluminum tariffs with Canada and Mexico – WSJ

US Government is ending the steel and aluminum tariffs with Canada and Mexico. According to Wall Street Journal, the US Government have reached a deal with these countries on Friday.

Canada and Mexico government representatives have confirmed that the deal has been made although more information is coming in the next few days.

The US Government is working to get the US-Mexico-Canada Agreement (USMCA) passed. According to Canada, the both countries have agreed to terminate all pending litigation between them at the World Trade Organisation regarding the metals.

This USMCA was signed in November by the three countries, but it needs the ratification still.

 

Business Finance