US Ends Tariff Exemptions for EU Canada and Mexico June 1 2018 The United

Us ends tariff exemptions for eu canada and mexico

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US Ends Tariff Exemptions for EU, Canada, and Mexico June 1, 2018 The United States moves forward with 25 percent tariffs on steel and 10 percent on aluminum for the European Union, Canada, and Mexico by ending their previously granted exemptions effective June 1. The three trading part- ners supplied almost half of US steel and aluminum imports in 2017. As of June 1 , Argentina has quotas for steel and aluminum in return for permanent tariff exemptions for both metals. Brazil has quotas on steel, with differing amounts on semi-finished and finished steel products, and a 10 percent tariff on aluminum. Australia remains the only trading partner for steel and aluminum without trade restrictions. EU Retaliates on Iconic American Goods June 22, 2018 The European Union activates its previous tariff threat on the United States, with an initial list covering $3.2 billion of US products in 2017. Steel and aluminum make up 34 percent of the affected products, while the rest are agri- cultural and food products, and other consumer goods. Specific items include bourbon whiskey, motor boats and yachts, motorcycles, blue jeans, corn, and peanut butter. Harley-Davidson announced on June 25 it was shifting additional motorcycle production outside the United States to avoid the retaliatory tariffs. Read “Harley Is a Tariff Trend Setter—But Not in a Good Way” by Chad P. Bown, Euijin Jung, and Zhiyao (Lucy) Lu.
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5 PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS TRADE AND INVESTMENT POLICY WATCH BLOG Canada Strikes Back July 1, 2018 Canada imposes tariffs on US products totaling $12.8 billion in 2017. Half of the targeted goods are steel and aluminum. American agricultural and food products make up 19 percent, and 24 percent are other consumer goods. Steel products face a 25 percent tariff, while the remaining products are hit at a 10 percent rate. Read “Canada Strikes Back! Here Is a Breakdown” by Chad P. Bown, Euijin Jung, and Zhiyao (Lucy) Lu. Trump Administration Files WTO Challenges July 16, 2018 The US Trade Representative files separate disputes at the World Trade Organization against Canada , China , the European Union , Mexico , and Turkey , challenging the tariffs each WTO member imposed in response to President Trump’s aluminum and steel trade actions meant to protect US national security interests. Collectively, the five economies have retaliated with tariffs on US exports worth $24 billion in 2017. Subsidies for American Farmers After Export Fallout July 24, 2018 The US administration announces it will subsidize American farmers for up to $12 billion for their lost export sales resulting from all of the president’s tariff actions (including other tariffs on Chinese goods) using a law that supported farmers during the Great Depression. A total of $27 billion of American agriculture exports are being affected, like soybeans, corn, nuts, fruit, and beef.
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