How will President Trump's aluminum and steel tariff affect Laredo?

After steel tariff battle, Trudeau heads out on cross-country factory tour

Additionally, the president criticized several European countries of engaging in unfair trade deals with the U.S.

But a trade war risks upending this arrangement. Putting a value on the intellectual property that Chinese individuals have reportedly siphoned from USA companies has been particularly vexing.

Trump's instructions to his officials came at his Cabinet meeting last Thursday on March 8, the day he issued a proclamation to impose a 25 per cent tariff on import of steel and 10 per cent on aluminum.

Tariffs on tech exports could potentially hit the fastest growing segment of China's industrial sector, an area that the country's leaders have been keen to promote as they push for "higher quality" economic growth.

Housing trade groups also took a dim view of the tariffs, saying the policy would raise costs and slow building at a time when the nation faces a severe shortage in homes and rental housing.

A senior European diplomat in Beijing said China would be relieved to see Europe and Washington at odds over the metals tariffs.

The EU said it hoped to be exempt from the tariffs, like Canada and Mexico are, or that the issue might be solved in worldwide arbitration at the World Trade Organization.

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A China-based business source with knowledge of discussion among senior European officials said there had been a "clear effort" by the USA government over the past six months to introduce a coordinated approach to Chinese industrial policy, but that Mr Trump's metals tariffs had undermined European support.

"Significant damage in South Korea's steel exports to the United States seems unavoidable", the country's trade minister, Paik Un-gyu, said in a statement.

A meeting in Brussels between Malmstrom and her US counterpart Robert Lighthizer on Saturday ended without a breakthrough, as the European Union didn't receive assurances that it will be exempted from the metal tariffs.

While Trump has called China "helpful" in dealing with North Korea, his 2016 campaign focused on pulling out of global trade deals that he sees as detrimental to USA interests.

Trump returned to the offensive over the weekend, raising the prospect of higher levies on European cars and telling supporters at a rally that the countries of the EU have banded together "to screw the US on trade". That would hurt producers but boost profits of construction and other industries in Southeast Asia.

"Secretary of Commerce Wilbur Ross will be speaking with representatives of the European Union about eliminating the large Tariffs and Barriers they use against the U.S.A.", Trump tweeted on Monday.

Indonesia said that while it the steel and aluminum tariffs are not a big problem for its industry, the country would be in trouble if the US targeted its palm oil, a key export used in a huge number of consumer products. Vice President Jusuf Kalla said the country had the option of retaliating against imports of USA soybeans, wheat and aircraft.



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