PM plans more trade negotiations with the Trump

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The prime minister is the planning of the continuation of the negotiations with the AMERICAN President Donald Trump on the looming trade war over steel and aluminum prices.

Theresa may, the spokesman said on Monday that the two leaders will discuss the issue again later in the week.

“The prime minister has discussed with the President of the Trumpet on a number of occasions already,” he told reporters.

He said that Ms Might once again expressed their disappointment about the decision to hit the taxes on metals imported by the united states.

The Advantage of the administration’s move to put the customs duties of 10% on aluminum, and 25% on the steel of the European Union, Canada, and Mexico has been widely condemned.

The French President, Emmanuel Macron, called for Mr. Trump to tell him the rates were “unlawful,” while the Prime Minister of canada, Justin Trudeau has said that WE will go is “totally unacceptable”.

The EU, Mexico, and Canada all have plans retaliatory tariffs on U.S. products.

On the weekend, to China, which is not directly impacted by the announced last week – has warned that all trade negotiations between Beijing and Washington would be null and void if the united states puts in place trade sanctions.

Despite the chorus of criticism, Mr. Trump seemed to be in no mood for a compromise. Saturday, the president tweeted that the united states had been “ripped off by other countries for years on the trade”.

He says that tariffs will protect US steelmakers, who, he said, are vital to the national security. Mr. Trump has also complained about some of the obstacles that american companies face in Europe and elsewhere.

“Time to get smart!” he added.
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Trade sanctions: The basics

What is a commercial war? This is when countries attack other exchanges with taxes and quotas. We are going to raise the rates, a type of tax, to the detriment of the other to respond in a tit-for-tat escalation. This can hurt the economy and lead to rising political tensions.

What are the rates? Taxes on foreign-made products. In theory, taxing items coming into the country (imports), makes people less likely to buy them as they become more expensive. They are likely to buy cheaper local products instead, to boost the economy of your country.

What is a trade deficit? The difference between the way many of your country buys from another country, in comparison with what you are selling to this country. The united states has a huge trade deficit with China. Last year, it stood at about $375bn.

Canada, Mexico and the EU combined exported $23 billion of steel and aluminum for the u.s. by 2017, nearly half of the $48bn of the total steel and aluminum, the imports of the last year.

The EU responded to the US announcement with a 10-page list of tariffs on U.S. products ranging from Harley-Davidson to bourbon.

Canada plans to impose customs duties of 25% on approximately $13bn value of u.s. exports from July 1. The affected goods include some American steel, as well as consumer products such as the yoghurt, whisky and coffee.