Economy

Steel, aluminum tariffs to cover all U.S. trade partners: Ross

Steel, aluminum tariffs to cover all U.S. trade partners: Ross

Sweden's largest home appliance maker, Electrolux, said it would postpone its planned $250 million investment in Tennessee following Trump's tariff announcement.

"This is a can of Campbell Soup". This is a can of Campbell's soup. But Secretary of Commerce Wilbur Ross said Friday that a potential price hike on certain goods "doesn't mean anything".

The Business Roundtable, a group of numerous most powerful American executives, chaired by JPMorgan CEO Jamie Dimon, decried the administration's decision to implement the tariffs, saying it would hurt the USA economy, American companies, workers and consumers and result in "foreign retaliation against US exporters".

Peter Navarro, director of the White House National Trade Council, said exempting countries was a slippery slope.

South Korean delegation heads to Pyongyang
Trump previously has said he would be willing to talk to North Korea's leader. "And I said, 'So would we, but you have to de-nuke. Kim Jong-un said, while agreeing to join in the Winter Olympics, that he viewed the United States, not South Korea, as the enemy.

Earlier in the day, a major Korean business lobby, Federation of Korean Industries, said it has asked 565 United States lawmakers, officials and opinion leaders to press the Trump administration to reconsider the action. "Well, in our sized economy, that's a tiny, tiny fraction of one percent". That's almost 20 percent of the hypothetical $1,000 tax cut most taxpayers will see; per Scott Lincicome, assuming 17 million cars sold this year, you're talking about $3 billion sucked out of the economy in new taxes. In a tweet on Saturday, Trump went on the offensive, threatening the European Union with a tax on its automobile imports.

The European Union says it would increase taxes on American made products if the USA moves forward - while China has warned it will not sit idly by if its economy is hurt.

Ross told CNBC that there is "about 1 ton of steel in a car", NBC's Carl Quintanilla reported.

In an interview with CNBC, Wilbur Ross also used a tin of Campbell's soup and a can of Budweiser to demonstrate how Trump's plan to introduce a 25% import tax on steel and a 10% import tax on aluminium would have minimal impact on consumers.

Men Charged Over Multiple Incidents In Tallaght
Another three men were charged in connection to the burglary of a Centra Store, on Kiltalown Way, in Tallaght on Friday night. The German discount store, which was closed at the time of the break-in, has confirmed that a serious incident took place.

Trump has faced major backlash over the proposed tariffs.

. It isn't going to change the price of a auto. ". The only reason China or anyone else buys soybeans from us is that it's the cheapest price that they can get". "Go after China, not the rest of the world".

U.K. Prime Minister Theresa May expressed "deep concern" over the tariffs during a phone call with Trump on Sunday. The flood of Chinese steel has been blamed for the loss of US 50,000 jobs since 2000, a year before China joined the World Trade Organization. Graham says "China is winning and we're losing with this tariff regime".

Meanwhile, the Commerce Department seeks to boost USA domestic steel capacity utilization from 73 percent to 80 percent with a several measures including the tariffs.

"Let's assume that to be the case", he said, increasing the likelihood that Japanese products will be affected, though the action's main target is China. "We've been in a trade war, and we're the ones that have been decimated because of this".

2 shot at Central Michigan University, gunman remains at-large
The university, in Mount Pleasant , identified the victims as James Eric Davis Sr. and Diva Jeenen Davis, the suspect's parents. The shooting at CMU comes just two weeks after a gunman killed 17 people at Marjory Stoneman Douglas High School in Florida.


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    Billy Graham's groundbreaking work in North Korea

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