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Donald the Dealbreaker

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Post by veya_victaous on Tue Mar 06, 2018 2:25 am

DONALD Trump has reneged on a promise he reportedly made to exempt Australia from import tariffs.

The US President sent global markets tumbling last week after he vowed to impose a 25 per cent tariff on steel imports and 10 per cent tariff on aluminium exports to protect US producers, sparking fears of a global trade war.

Australia, Canada and several European nations were hoping to be exempt from the rule, but White House trade adviser Peter Navarro confirmed on Sunday that the rule would be applied “across the board”.

But it wasn’t just a case of dashed optimism for Australia. The two countries reportedly came to an agreement last year that the Trump administration would specifically exempt us from its controversial new plan.

According to the ABC, the US president “emphatically” promised Australia would be exempt from the tariffs while meeting with Prime Minister Malcolm Turnbull at the Hamburg G20 meeting in July.

The conversation was witnessed by Finance Minister Mathias Cormann and Deputy Secretary of the Department of Prime Minister and Cabinet David Gruen, as well as members of Mr Trump’s administration.

Australia exports an estimated $274 million worth of steel and $276 million of aluminium to the US, which imports more than 36 million tonnes of steel and five million tonnes of aluminium a year.

Despite threats of retaliation from across the world — including senior members of his own party — Mr Trump confirmed on Monday the administration is “not backing down”.

On Saturday, Trade Minister Steve Ciobo said details of the new imposts were still being worked out and that any exemptions would be a decision for Mr Trump. “I’m not going to provide a commentary on the Trump administration’s trustworthiness,” Mr Ciobo said.

Mr Ciobo will join his counterparts from 10 countries for the trans-Pacific Partnership signing ceremony in Chile on Thursday and expects the US action to be discussed on the sidelines.

The European Union is said to be preparing retaliatory measures.

http://www.news.com.au/finance/markets/world-markets/trump-promised-australia-would-be-exempt-from-trade-war/news-story/9e4e37eb88b898d454830f8c652e8d5a

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veya_victaous
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Post by veya_victaous on Tue Mar 06, 2018 2:29 am

I think in response to Donald's Opening Volley of the new trade War, we should just stop enforcing Copyrights on US products/media.
Open the Bay of Pirates again!!!!!
Donald the Dealbreaker  1284863816 Donald the Dealbreaker  1284863816 Donald the Dealbreaker  1284863816 Donald the Dealbreaker  1284863816

_________________
My job is to travel the world delivering Chaos and Candy.

We don't know the Questions... does that means we cannot seek the Answers?
veya_victaous
veya_victaous
The Mod Loki, Minister of Chaos & Candy, Emperor of the Southern Realms, Captain Kangaroo

Posts : 19095
Join date : 2013-01-23
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Location : Australia

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Post by 'Wolfie on Tue Mar 06, 2018 2:53 am

Cool

Donald Trump claims to be an "economic genius"...

Often claiming to be the "smartest person" in the room, and portrays himself as a great deal maker..

Yet he has lost over $6.7 billion dollars over the last few years, with his nett worth estimated at $3.3 billion in last year's Forbes list;   having been declared bankrupt three times along the way, and not paying any taxes since 2011...

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