surcharges on steel and aluminum double, to increase to 50 % – Liberation
New page in Donald Trump’s trade war. The American president doubled this Wednesday, June 4 in the morning on imports of steel and aluminumby bringing sectoral customs duties to 50 %. In a decree published Tuesday and entered into force at 12:01 a.m. local time (6:01 am in France), the tenant of the White House justified this increase by the will to « Make sure that (imports) will not jeopardize national security ».
« Even if the customs duties imposed so far have provided essential support for prices on the American market, they have not enabled these industries to develop and maintain a rate of use of production capacity which is sufficient for their sustainability and with regard to the needs of national defense », justified the text of the decree.
Steel and aluminum were the first sector concerned by the customs duties wanted by Donald Trump, with the entry into force a surcharge of 25 % on March 12in the displayed desire to encourage investments in the country.
And these sectoral customs duties, also applied to the automobile before expanding soon to pharmaceutical and semiconductor products, are the only ones not to have been blocked by a recent court decision, which has targeted the customs duties applied without distinction.
A new pricing fever push that comes while the representative of the White House in Commerce (USTR), Jamieson Greer, must meet the European Commerce Commissioner, Maros Sefcovic, on the sidelines of a meeting of the Organization for Cooperation and Economic Development (OECD), which is due to end on Wednesday.
Discussions tense, while Donald Trump threatened the EU with 50 % surcharge, accusing the block of not negotiating in good faith. They also intervene in a context of strong tensions, while the end of the 90 -day break, announced in the wake of the so -called « reciprocal » customs duties is scheduled for July 9.
White House spokesperson Karoline Leavitt confirmed on Tuesday that « The USTR has sent (one) letter to all our business partners to remind them kindly that the deadline approach ».
But Europe has already said it ready to reply In the event of an increase in customs duties targeting it specifically. « You have to keep your cool and always demonstrate that the establishment of these customs duties is not in the interest of anyone, starting with the American economy »tried to calm the French Minister Delegate for Foreign Trade Laurent Saint-Martin.
The OECD now predicts a strong slowdown in American growth this year due to the customs assaults of Trump, expected at 1.6 % against 2.4 % before the billionaire arrived at the White House.
Before 50 %surcharge, Canada, the leading supplier of the United States in steel and aluminum, said these customs duties were « Illegal and unjustified». The Minister of the Mexican Economy, Marcelo Ebrard, said that his country would ask on Friday to be exempt from it, denouncing measures « Absurd ». Mexico sends 80 % of its exports to the United States.
