Fairly traded steel and aluminum should be excluded from Trump’s tariffs: U.S. lawmaker

Vastavam web: The top U.S. Republican lawmaker overseeing trade policy said on Sunday all fairly traded steel and aluminum should be excluded from President Donald Trump’s tariffs, especially those of NAFTA partners Canada and Mexico.Kevin Brady, chairman of the House Ways and Means Committee, made his remarks shortly after U.S. Commerce Secretary Wilbur Ross said he could not rule out the prospect of no exemptions.Asked whether the two NAFTA allies should be exempted, Brady told reporters:“Yes, and going further, excluding all fairly traded steel and aluminum, not just from these two countries.”

The tariffs, which Trump says are needed to protect domestic industries against unfair competition from China and other nations, have sparked fears of a wider global trade war. The European Union’s trade chief on Friday warned of possible retaliation.Brady made his comments in Mexico City, where officials from Mexico, the United States and Canada are holding the seventh round of talks to modernize the North American Free Trade Agreement. Canada’s chief negotiator says the tariffs threat has made the slow-moving negotiations more complex.

The current round will end on Monday with meetings between Canadian Foreign Minister Chrystia Freeland, U.S. Trade Representative Robert Lighthizer and Mexico’s Economy Minister Ildefonso Guajardo to determine the next steps.Canada, the single largest supplier of both steel and aluminum to the United States, says any tariffs would be totally unacceptable.

Ross told U.S. television news shows on Sunday that Trump had spoken to world leaders about his planned tariff hikes and was not considering any exemptions to the measure.Brady said he and others would“continue to make the case to the White House about a smart approach that really narrowly targets unfairly traded products.”