(Rajeshni Naidu-Ghelani – CBC News)
U.S. President Donald Trump’s announcement of hefty tariffs on imported steel and aluminum have several countries around the world frantically trying to seek an exemption from the world’s biggest economy on the trade tax.
The European Union (EU), Japan and Australia are among others asking to be exempt from the proposed import duties of 25 per cent on steel and 10 per cent of aluminum. Canada and Mexico have already been spared.
But as negotiations on trade continue between the U.S. and the rest of the world, economists say the impact of these new tariffs on the global economy is not as big as the threat of a global trade war. Click here to read more.
- Steel and Aluminum Tariffs – Economic Experts Poll (IGM Forum)
- WTO Chief Warns of “Domino Effect” of U.S. Trade Tariffs (Xinhua)
- Trump’s Trade War and the $470 Billion Hit to the Global Economy (Bloomberg)
- Policy Brief: Estimated Impacts of Tariffs on Steel and Aluminum (Trade Partnership)
- Trump Has Created an International ’Free-For-All’ That Could Cause Huge Waves in the Global Economy (Business Insider)