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Started By
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Trump Set to Lift Steel and Aluminum Tariffs on Canada and Mexico as Early as Today
Posted on 5/17/19 at 11:45 am
Posted on 5/17/19 at 11:45 am
quote:
United States Expected to Lift Metal Tariffs on Canada and Mexico
By Ana Swanson
May 17, 2019
WASHINGTON — The Trump administration has reached agreements with Canada and Mexico to lift tariffs on metals imported from those countries, people familiar with the matter said, resolving a yearlong standoff that inflamed North Atlantic tensions and complicated efforts to ratify a revised trade deal.
The agreements, which could be announced as early as Friday, would essentially free both countries from President Trump’s tariffs but set up a mechanism for monitoring and enforcement in the case of import surges.
It is unclear when exactly the agreement would go into force and the terms of the deal could still change before it is officially announced.
The decision to ease the 25 percent tariffs on steel and 10 percent tariffs on aluminum comes as the White House also announced a six-month delay in determining whether to impose levies on foreign automobiles. That extension delivers a temporary reprieve to global automakers and auto suppliers, which had been bracing for punishing tariffs of up to 25 percent. But it sets up a tight six-month deadline for the president and his advisers to reach trade deals with Japan, Europe and potentially other countries.
LINK
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Posted on 5/17/19 at 11:45 am to NC_Tigah
poor IB reeeeeeeeeeeeeeeeeeeeeeeeeeeeman 
he just knew he had trump!
he just knew he had trump!
Posted on 5/17/19 at 12:07 pm to NC_Tigah
Probably a message to China. Cooperate and we back off.
Posted on 5/17/19 at 12:13 pm to Bestbank Tiger
quote:
Probably a message to China. Cooperate and we back off.
but reeeman PROMISED ME trump was going to institute permanent tarrifs across the board on everything.
HE PROMISED ME!Posted on 5/17/19 at 12:22 pm to CAD703X
IB will have to shut the Guangzhou office down and relocate to Tijuana
Posted on 5/17/19 at 12:31 pm to CAD703X
quote:With all the focus on China, this would clear the way for the USMCA, which is a big deal. The Canada-Mexico agreement would represent by far our largest, most important trade agreement. We currently trade $1.2T/yr with Canada-Mexico at a trade deficit of $88Bn/yr. US trade with the EU runs ~$718Bn/yr w/ a $151Bn/yr deficit. Then comes China @ $635Bn/yr w/ a $376Bn/yr deficit.
poor IB reeeeeeeeeeeeeeeeeeeeeeeeeeeeman
So whereas the large China deficit and onerous predatory trade practices give us perhaps the most room for improvement, Canada/Mexico and the EU are more prolific partners.
Posted on 5/17/19 at 12:38 pm to Bestbank Tiger
quote:Meanwhile, despite Communist Party efforts to minimize reporting, the Chinese economy continues to slow. Baidu is off 15% today alone. Alibaba is off significantly on the year. The negotiations w/ China could get very interesting.
Probably a message to China. Cooperate and we back off.
Posted on 5/17/19 at 12:43 pm to NC_Tigah
quote:Alibaba is up almost 25% in 2019, although if you meant compared to a year ago, it is down quite a bit.
Alibaba is off significantly on the year. T
Posted on 5/17/19 at 12:44 pm to NC_Tigah
Trudeau is lifted up by Trump now to work on his eyebrows
Posted on 5/17/19 at 12:46 pm to NC_Tigah
IB Chinaman must be melting.
Posted on 5/17/19 at 12:51 pm to buckeye_vol
quote:Actually I meant we bought it in March at 185 and it's in the 160's now.
if you meant compared to a year ago, it is down quite a bit.
Serves me right for ad libbing.
You're right though, Baba had a nice 1stQ run right up to the point we bought it.
This post was edited on 5/17/19 at 1:03 pm
Posted on 5/17/19 at 12:56 pm to NC_Tigah
quote:
Meanwhile, despite Communist Party efforts to minimize reporting, the Chinese economy continues to slow. Baidu is off 15% today alone. Alibaba is off significantly on the year. The negotiations w/ China could get very interesting.
That's doubleplusungood for them. The old projections have to go down the memory hole.
Posted on 5/17/19 at 1:00 pm to NC_Tigah
Steel and Aluminum Tariffs are officially history.
Repeal just announced in a joint US-Canada press release as a done deal on CNBC. US and Canada will drop tariffs in 48hrs. Canada will employ major transhipment prohibitions.
Repeal just announced in a joint US-Canada press release as a done deal on CNBC. US and Canada will drop tariffs in 48hrs. Canada will employ major transhipment prohibitions.
Posted on 5/17/19 at 1:16 pm to NC_Tigah
quote:
With all the focus on China, this would clear the way for the USMCA, which is a big deal.
Very true but do you really think that the dems will let it be ratified? They will still find some issue with it just so they can stop Trump.
This post was edited on 5/18/19 at 11:59 am
Posted on 5/17/19 at 6:14 pm to WeeWee
quote:
Very true but do you really think that the dems will let it be ratified? They will still fins some issue with it just so they can stop Trump.
And Trump can run ads in the Rust Belt making sure the baws know their representative opposed opening overseas markets to American manufactured goods.
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