Commerce recommends Trump impose new limits on imports of steel and aluminum, defying Republican...
Source: The Washington Post
Commerce recommends Trump impose new limits on imports of steel and aluminum, defying Republican lawmakers and big business
By Washington Post Staff February 16 at 12:35 PM
The Commerce Department recommended on Friday that President Trump take action to restrict soaring imports of steel and aluminum, saying that relying on foreign sources for the critical materials poses a threat to national security.
Commerce Secretary Wilbur Ross recommended three potential ways to curtail foreign shipments of each metal: tariffs, quotas or a mix of the two. It would be among the most significant trade actions Trump has taken.
The president has until mid-April to decide whether to follow the recommendations.
Earlier this week, the president met at the White House with senators who warned that any import limits would raise costs for companies that use steel and aluminum, costing more jobs than they would save at U.S. steel mills.
This is a developing story. It will be updated.
Read more: https://www.washingtonpost.com/news/politics/wp/2018/02/16/commerce-recommends-trump-impose-new-limits-on-imports-of-steel-and-aluminum-defying-republican-lawmakers-and-big-business/
SWBTATTReg
(22,171 posts)This is contrary to what free market republicans believe in. They must be having brain farts by now!
Cryptoad
(8,254 posts)an extinct species ! What the new Oligarch Republicans have a hard grasping is that the lower half are barely making ends meet. and that with the use of credit cards. When u drive prices up, more and more end up in personal bankruptcy ,,, Say Hello to the New Trump Greatest Recession.
cstanleytech
(26,320 posts)100% at fault.
Cold War Spook
(1,279 posts)Imagine if Trump had been elected right after Bush.
Cryptoad
(8,254 posts)Wellstone ruled
(34,661 posts)business news,couple of Imports that never show up in the MSM are,Soft Wood,(lumber) and Structural Steel as well as Steel Plate. These are being dumped into our market from Russia.
The West Coast Lumber Mills,in the US and Canada have been screaming about this for months. A Roll Mill on the East Coast shut down because of loss of contracts that were taken away with Dumped Russia Steel.
Cryptoad
(8,254 posts)those economic practices.....problem lies in that the Olitgarchs refuse to reduce their personal profit to adjust, rather force Labor to absorb all the cost so some shithole will not be able to buy his 5th yacht this year. !
NCjack
(10,279 posts)or Russian capitalists? Who gets the nod? The answer is: Russian capitalists !!!
SWBTATTReg
(22,171 posts)Items are being dumped into the US markets w/ no equivalent fair trade in exchange. This is wrong. China and other state players don't play by the rules so why should we in the US do so? In quite a few cases, we do need to protect our markets (and stakeholders too), otherwise, they are arbitrarily wiped off the map.
This is NOT fair trade, and playing by the rules, period. My heart goes out to those impacted by these types of events, for their playing field is not fair to them.