Friday, 21 July, 2017

Donald Trump puts U.S. in a club of one

Defining the future what is space?More Defining the future what is space?More
Lillian Steele | 10 July, 2017, 00:54

"There was a question mark there, as to whether or not the EU. would be able to continue signing free trade agreements in the future", said André Sapir, an worldwide trade expert and a former economic adviser to the European Union's Director General for Economic and Financial Affairs.

"The premise of that report we will use as an opportunity to talk with many of our trading partners around the world about what's going on in steel", Cohn told the publication.

US steel prices are firm so far this week, holding onto their value despite the passing of the "deadline" for the Commerce Department's Section 232 investigation results last Friday.

For the United States, the singular focus on North Korea is not only naive and ineffectual, but also masks other consequential issues in the relationship that need to be addressed directly and candidly. Remedies taken under the national-security exception would make it hard for other countries to successfully bring a complaint to the World Trade Organization.

In addition to being intellectually dishonest, asserting that steel imports pose a threat to US national security could be internationally destabilizing.

President Donald Trump and Britain's Prime Minister Theresa May wait for the start of the first working session of the G-20 meeting in Hamburg, northern Germany, on Friday, July 7, 2017.

He continued, "We believe that these sanctions are not only doomed to fail, but also run counter to the G20 principles of cooperation in the interests of all countries". A self-imposted Department of Commerce deadline came and went this past Friday with no announcement of the steel investigation's conclusion.

On July 7 and 8, leaders from China, Canada, Japan, and Germany are all expected to press Trump on his Section 232 investigation to determine whether cheap worldwide imports of steel pose a threat to USA national security.

But Trump did not say 40 percent; he said "almost" 40 percent.

The largest exporters of steel to the United States are Canada, Brazil, South Korea, Mexico and Turkey, according to IHS Global Trade Atlas.

This time around, leaders signaled that steel is a sticking point.

Trump attacked China for ramping up trade with North Korea in a Wednesday tweet, saying that "trade between China and North Korea grew nearly 40% in the first quarter".

- Donald J. Trump (@realDonaldTrump) July 5, 2017Trade between China and North Korea grew nearly 40% in the first quarter.

European Trade Commissioner Cecilia Malmstroem said at the end of June that Brussels would quickly retaliate against the US if Europe became collateral damage in Trump's war on cheap steel. Ross, a former steel mill owner, has been studying the issue for months, and the president reportedly is keen to protect an industry he sees as emblematic of USA industrial might.

Trump is scheduled to speak in Warsaw and then travel to Hamburg for the two-day G20 summit with other world leaders.

"That hurts us, but it also hurts the Americans", he added.

Merkel also pointed out that most of the countries supported the Paris accord on climate change, while Trump has abandoned it.

On climate, too, the United States - just a year ago a leading voice in favor of global action to reduce carbon emissions - is on its own path. Officials are likely to face strains as they try to cobble together the joint statement - known as the "communique" - for this meeting, because Trump could easily block any language that he feels try to box him in.

Their encounter, which began with a handshake and lasted over two hours, was one of the most eagerly anticipated meetings between two leaders in years.

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