Crosstalk: Are Trump's tariffs a good deal?


Trump returned to the offensive over the weekend, raising the prospect of higher levies on European cars and telling supporters at a rally that the countries of the EU have banded together "to screw the US on trade".

"Trade war has no winners, it will only bring disaster to the economies of China, the USA and the world", Zhong Shan told reporters at China's annual National People's Congress meetings in Beijing. Diplomatic and USA business sources say the United States has frozen a formal mechanism for talks on commercial disputes with China because it is not satisfied Beijing has met its promises to ease market restrictions.

A European Commission spokesman said Trump was "cherry-picking" particular tariffs to highlight differences, and maintained that average tariffs were very similar on each side of the Atlantic at about 3.0 percent for products into Europe and 2.4 percent into the United States.

Chinese leaders have threatened in the past to retaliate against raised trade barriers, but have yet to take direct action following Trump's announcement.

It will only bring disaster to China, the United States and the rest of the world.

On average, the EU applies a 3 percent tariff on US products, while the average tariff applied by the 2.4 percent, the European Commission said, adding that isolating cars is "cherry-picking".

But Mr Turnbull says Australia has a strong anti-dumping regime and it is prepared for steel imports.

Details of Bachchan family's assets worth INR 10 billion
Similarly, in Lucknow's Kokari area Jaya BAchchan has an agricultural plot of 1.22 hectare of the value 2.2 crores. Their house is not their only house, but they own a 3,175 sqm residential property in Brignogan Plage in FRANCE.

Meanwhile, the European Union is filing a complaint with the World Trade Organization, arguing that the obscure, national security-related trade law Trump used to justify the tariff violates WTO rules.

Even Canadians not involved in the steel and aluminum industry would feel the impact, since steel and aluminum products imported from the US would see their prices increase under new tariffs.

"I have to say, when President Trump says he's putting tariffs on the table, I think tariffs are one part of reworking our trade policy overall", she said. When Japan allowed its auto producers to control the auto distributors, it was declaring a trade war.

The World Trade Organization, the Geneva-based institution that rules on trade disputes, gives countries wide leeway to determine their national security interests. China accounts for 24.8 percent of Korea's total exports, while the USA and the European Union make up 12 percent and 9.4 percent, respectively.

Part of the reason for the trade gap, Zhong said, was that the United States had restricted hi-tech exports to China. "We believe that protectionism is a dead end", French Economy Minister Bruno Le Maire told reporters.

Last year, the USA posted a $375 billion (€304 billion) deficit with China. The new tariff action came about a month after the USA introduced safeguard measures against South Korean washing machines and solar panels in January.