{"id":1412,"date":"2018-03-08T11:55:50","date_gmt":"2018-03-08T11:55:50","guid":{"rendered":"http:\/\/baileyonlineclassroom.com\/theamericasblog\/?p=1412"},"modified":"2018-03-08T11:55:50","modified_gmt":"2018-03-08T11:55:50","slug":"bloomberg-canada-mexico-to-get-u-s-tariff-exemption-china-issues-warning","status":"publish","type":"post","link":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/2018\/03\/08\/bloomberg-canada-mexico-to-get-u-s-tariff-exemption-china-issues-warning\/","title":{"rendered":"Bloomberg: Canada, Mexico to Get U.S. Tariff Exemption; China Issues Warning"},"content":{"rendered":"<h1 class=\"lede-text-only__hed\"><span class=\"lede-text-only__highlight\">Canada, Mexico to Get U.S. Tariff Exemption; China Issues Warning<\/span><\/h1>\n<p>posted by Colin Bunn<\/p>\n<p>Bloomberg Politics<\/p>\n<p><!--more--><\/p>\n<div class=\"lede-text-only lede\">\n<div class=\"lede-text-only__container\">\n<div class=\"lede-text-only__content\">\n<address class=\"lede-text-only__byline\">By<\/p>\n<div class=\"author\">Jennifer Jacobs<\/div>\n<p>,<\/p>\n<div class=\"author\">Andrew Mayeda<\/div>\n<p>, and<\/p>\n<div class=\"author\">Toluse Olorunnipa<\/div>\n<\/address>\n<div class=\"lede-text-only__times\">March 7, 2018, 9:59 PM EST\u00a0<span class=\"updated-wrap\"><span class=\"updated-text\">Updated on\u00a0<\/span>March 7, 2018, 11:55 PM EST<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"content-well\">\n<section class=\"main-column\">\n<ul class=\"abstract\">\n<li class=\"abstract__item\">\n<div class=\"abstract__item-text\">Both nations would be spared if they agree to new Nafta pact<\/div>\n<\/li>\n<li class=\"abstract__item\">\n<div class=\"abstract__item-text\">Other U.S. allies can also seek exemptions, Navarro says<\/div>\n<\/li>\n<\/ul>\n<div class=\"lede-media-video lede\">\n<div class=\"video-player\">\n<div id=\"player-soxYug5\" class=\"video-player__container stick fade-small\">\n<div class=\"bvp-playlist-player bvp-playlist-player--last vjs-tech-hlsjs\">\n<div class=\"bvp-playlist-player__container\">\n<div class=\"bvp-playlist-slide\">\n<div id=\"bvp-bvp_pl-853847\" class=\"video-js vjs-default-skin vjs-show-big-play-button-on-pause vjs-16-9 vjs-fluid bvp-bvp_pl-853847-dimensions vjs-controls-enabled vjs-workinghover vjs-autoplay vjs-has-started vjs-paused vjs-user-inactive\" role=\"region\">\n<div><\/div>\n<div class=\"vjs-text-track-display\"><\/div>\n<p><button class=\"vjs-big-play-button\" title=\"Play Video\" type=\"button\"><span class=\"vjs-control-text\">Play Video<\/span><\/button><\/p>\n<div class=\"vjs-control-bar\" dir=\"ltr\" role=\"group\"><button class=\"vjs-play-control vjs-control vjs-button vjs-paused\" title=\"Play\" type=\"button\"><span class=\"vjs-control-text\">Play<\/span><\/button><\/p>\n<div class=\"vjs-volume-menu-button vjs-menu-button vjs-menu-button-inline vjs-control vjs-button vjs-volume-menu-button-horizontal vjs-vol-3\" title=\"Mute\" role=\"button\">\n<div class=\"vjs-menu\">\n<div class=\"vjs-menu-content\">\n<div class=\"vjs-volume-bar vjs-slider-bar vjs-slider vjs-slider-horizontal\" role=\"slider\">\n<div class=\"vjs-volume-level\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><span class=\"vjs-control-text\">Mute<\/span><\/div>\n<div class=\"vjs-current-time vjs-time-control vjs-control\">\n<div class=\"vjs-current-time-display\"><span class=\"vjs-control-text\">Current Time<\/span>0:13<\/div>\n<\/div>\n<div class=\"vjs-time-control vjs-time-divider\">\n<div>\/<\/div>\n<\/div>\n<div class=\"vjs-duration vjs-time-control vjs-control\">\n<div class=\"vjs-duration-display\"><span class=\"vjs-control-text\">Duration Time<\/span>7:09<\/div>\n<\/div>\n<div class=\"vjs-progress-control vjs-control\">\n<div class=\"vjs-progress-holder vjs-slider vjs-slider-horizontal\" role=\"slider\">\n<div class=\"vjs-load-progress\"><span class=\"vjs-control-text\">Loaded: 0%<\/span><\/p>\n<div><\/div>\n<\/div>\n<div class=\"vjs-play-progress vjs-slider-bar\"><span class=\"vjs-control-text\">Progress: 0%<\/span><\/div>\n<\/div>\n<\/div>\n<div class=\"vjs-custom-control-spacer vjs-spacer \"><\/div>\n<p><button class=\"vjs-fullscreen-control vjs-control vjs-button\" title=\"Fullscreen\" type=\"button\"><span class=\"vjs-control-text\">Fullscreen<\/span><\/button><\/div>\n<div class=\"bvp-title-bar bvp-title-bar__visible\">\n<div class=\"bvp-title-bar__text\">Navarro Says White House Has &#8216;Deep Bench&#8217; to Replace Cohn<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"bvp-playlist-slide bvp-playlist-slide__preload\"><\/div>\n<div class=\"bvp-up-next\">\n<div class=\"bvp-up-next__resume\"><\/div>\n<div class=\"bvp-up-next__container\">\n<div class=\"bvp-up-next__slide\"><span class=\"bvp-up-next__slide-title\">White House Says Potential Tariff Carve Out for Some Countries<\/span><\/div>\n<div class=\"bvp-up-next__slide\"><span class=\"bvp-up-next__slide-title\">Gary Cohn Resignation Raises Uncertainty, Says Goldman&#8217;s Hatzius<\/span><\/div>\n<\/div>\n<\/div>\n<div class=\"bvp-playback-transition bvp-hidden\">\n<div class=\"bvp-playback-transition__container\">\n<div class=\"bvp-playback-transition__title\"><\/div>\n<div class=\"bvp-playback-transition__buttons\">\n<div class=\"bvp-playback-transition__countdown\" role=\"button\"><\/div>\n<p><button class=\"bvp-playback-transition__cancel\"><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"lede-media-video__caption\">Peter Navarro\u00a0discusses Gary Cohn\u2019s White House exit, U.S. economic policy, and President Trump\u2019s proposed tariffs.<\/div>\n<\/div>\n<div class=\"body-copy\">\n<p>The Trump administration will initially exclude Canada and Mexico from stiff tariffs on steel and aluminum imports, an exemption they would lose if they fail to reach an updated Nafta agreement with the U.S., White House trade adviser Peter Navarro said on Wednesday.<\/p>\n<div class=\"hardwall\"><\/div>\n<div class=\"softwall\"><\/div>\n<p>The two nations won\u2019t be subject to tariffs on their steel and aluminum if they sign a new North American Free Trade Agreement that meets the satisfaction of the U.S., Navarro said, adding that other American allies could use a similar system to ask for an exemption.<\/p>\n<div class=\"hardwall\"><\/div>\n<div class=\"softwall\"><\/div>\n<p>If Nafta talks fall through, Canada and Mexico would face the same tariff as other nations, expected to be 25 percent on steel and 10 percent on aluminum.<\/p>\n<div class=\"hardwall\"><\/div>\n<div class=\"softwall\"><\/div>\n<p>\u201cHere\u2019s the situation, and the president has made this public,&#8221; Navarro said. &#8220;There\u2019s going to be a provision which will exclude Canada and Mexico until the Nafta thing is concluded one way or another.&#8221;<\/p>\n<div class=\"hardwall\"><\/div>\n<div class=\"softwall\"><\/div>\n<p>The decision-making process regarding the tariffs has evolved and more changes could be made before President Donald Trump formally approves them. China on Thursday vowed to retaliate, its most forceful comments yet on the threatened tariffs.<\/p>\n<h3>China Response<\/h3>\n<p>\u201cA trade war is never the right solution,\u201d China\u2019s Foreign Minister Wang Yi told reporters in Beijing. \u201cIn a globalized world, it is particularly unhelpful, as it will harm both the initiator and the target countries. In the event of a trade war, China will make a justified and necessary response.\u201d<\/p>\n<p><strong>Watch Chinese\u00a0Foreign Minister Wang Yi speak with reporters.<\/strong><\/p>\n<div class=\"thirdparty-embed\">\n<div class=\"thirdparty-embed__container\">\n<div class=\"iframely-embed\">\n<div class=\"iframely-responsive\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Earlier Wednesday, White House Press Secretary Sarah Huckabee Sanders said the tariff plan would\u00a0<a title=\"White House Eyes Tariff Exemptions on National Security Grounds\" href=\"https:\/\/www.bloomberg.com\/politics\/articles\/2018-03-07\/white-house-says-tariffs-exempt-countries-for-national-security\" target=\"_blank\" rel=\"noopener\">feature<\/a>\u00a0\u201cpotential carve outs for Canada and Mexico based on national security\u201d considerations and also possible exclusions for specific countries.<\/p>\n<p>Australia is among those making the case for exemption, with Foreign Minister Julie Bishop citing her nation\u2019s status as a &#8220;close ally and partner&#8221; in a Sky News interview on Thursday.<\/p>\n<h3>\u2018Encouraging\u2019<\/h3>\n<p>\u201cWhile the news is encouraging, our efforts are ongoing,\u201d Trade Minister Steven Ciobo said in a reply to emailed questions on Thursday about Huckabee Sanders\u2019 comments. \u201cWe are leaving no stone unturned to secure Australian exports and the jobs they support.\u201d<\/p>\n<p>Negotiators from the U.S., Canada and Mexico\u00a0<a title=\"U.S. Offers Canada-Mexico Tariff Waiver to Ease Nafta Path (1)\" href=\"https:\/\/www.bloomberg.com\/politics\/articles\/2018-03-05\/u-s-says-time-running-out-for-nafta-deal-would-mull-bilaterals\" target=\"_blank\" rel=\"noopener\">wrapped<\/a>\u00a0up the seventh round of Nafta talks this week in Mexico still hoping for a breakthrough on the biggest sticking points. The president hinted at the tariff incentive in a tweet earlier this week, without elaborating on how the trade-off would work.<\/p>\n<p>Trump\u2019s plan to impose tariffs on aluminum and steel triggered threats of retaliation from trading partners including Canada, Mexico and the European Union. Lawmakers of his own Republican Party have been turning up the pressure, warning of severe political and economic ramifications and the potential for a trade war from such broad-based measures.<\/p>\n<p>Navarro, the director of the Office of Trade and Manufacturing Policy, said in an interview with the Fox Business Network on Wednesday evening that Trump would sign the tariff proclamations on Thursday at 3:30 p.m. in the Oval Office surrounded by workers in the steel and aluminum industry.<\/p>\n<h3>EU Retaliation<\/h3>\n<p>But a person familiar with the planning said that the president would likely not sign on Thursday because lawyers needed more time to polish the details and finish the paperwork. The White House schedule released late Wednesday didn\u2019t list a tariff announcement for Thursday.<\/p>\n<aside class=\"inline-newsletter\">\n<div class=\"tp-container-inner\"><\/div>\n<\/aside>\n<p>The threat of retaliation over the tariffs, which the International Monetary Fund has warned could eventually damage growth, is already rising. Besides China, the European Union has said it would respond with its own 25 percent tariff to hit $3.5 billion of American goods. The bloc is targeting iconic U.S. brands produced in key Republican states on a range of consumer, agricultural and steel products, according to a list drawn up by the European Commission.<\/p>\n<p>Treasury Secretary Steven Mnuchin, in an interview on Wednesday, said he recognizes the risk of retaliation against the U.S. for steel and aluminum tariffs but he still believes the move will benefit American workers.<\/p>\n<p>\u201cWe are the freest trader in the world, hands down,\u201d Navarro told Bloomberg TV on Wednesday. \u201cAll we get for that is a half a trillion dollar a year trade deficit that offshores our wealth, offshores our jobs.\u201d<\/p>\n<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Canada, Mexico to Get U.S. Tariff Exemption; China Issues Warning posted by Colin Bunn Bloomberg Politics<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1412","post","type-post","status-publish","format-standard","hentry","category-article"],"_links":{"self":[{"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/posts\/1412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/comments?post=1412"}],"version-history":[{"count":1,"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/posts\/1412\/revisions"}],"predecessor-version":[{"id":1413,"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/posts\/1412\/revisions\/1413"}],"wp:attachment":[{"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/media?parent=1412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/categories?post=1412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/tags?post=1412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}