Flake introduces bill to neutralize Trump's tariffs on steel, aluminum

Flake introduces bill to neutralize Trump's tariffs on steel, aluminum

One Republican senator is promising to introduce legislation to nullify President Donald Trump's new tariffs on steel and aluminum imports.

The White House said Wednesday that Mexico, Canada and other countries may be spared from tariffs under national security "carve-outs".

His effort to tweak his blanket tariff plan did not mollify critics.

House Speaker Ryan said in a statement that he "feared the unintended consequences" of the new tariffs. "It's something I'm very upset about". "We will continue to urge the administration to narrow this policy so that it is focused only on those countries and practices that violate trade law". Without a doubt, those who can least afford it will be harmed the most. But the politics make it more complicated. "Thriving communities turned into ghost towns", Trump said in front of a group of workers before signing the tariff proclamations. The net effect will be not more jobs, but lower overall productivity. The conservative Washington Examiner, editorialising against the tariffs, notes that this delegation was "part of a disturbing trend of Congress handing excessive power over to the president".

American steelworkers "cheered the tariffs" as a benefit for their industry. "Tariffs are bad enough on their own". Even among the economists critical of the tariffs, no one has said that the effect of the tariffs would be so strong as to completely counteract the deep tax cuts passed previous year.

More news: Oil down 1pc on continued concerns over USA output
More news: Mike Pence Says He Forgave Joy Behar for Religious "Insult"
More news: Trump fires Tillerson, selects Pompeo as new Secretary of State

Members of the Republican Party have openly discussed moving to block the proposed tariffs through the introduction of legislation created to nullify any changes, but securing the votes to do so could now be even harder due to the unexpected support on the issue for President Trump from across the aisle. Considering his colleagues' timidity, he shouldn't bank on too much help.

Sen. Mike Lee, a Republican from Utah, is proposing legislation that would generally require future tariffs to get congressional approval. But it should not be used as an excuse for protectionism.

Louisiana, for example, is a huge importing state and relies on steel and aluminum imports for its gas industries.

Even some of Trump's most ardent defenders seemed ready for a fight.

The congressmen are honest in their opposition to Trump's tariffs, and they're right. And it's a recipe for killing growth. While lawmakers technically could try to counter Trump on trade with some kind of legislative response, there is no clarity about what that would look like, and what kind of precedent it would set. Self-delusion is a powerful toxin, but it's no excuse for having backed and defended an economic illiterate.

Related Articles

  • A Company Is Building 3D-Printed Homes For Just $10000

    A Company Is Building 3D-Printed Homes For Just $10000

    ICON is focused on creating homes in parts of the world that don't have the economic wherewithal to house the poverty-stricken. ICON has developed a method for 3D-printing of a single-story 650-square-foot house out of cement in just 12 to 24 hours .
    Russian exile Nikolai Glushkov found dead in London

    Russian exile Nikolai Glushkov found dead in London

    Mr Berezovsky was himself found dead on a bathroom floor at his home in southern England in 2013 with a scarf around his neck. If there is a change in the status of the investigation, an update will be provided", the Met said.
    Google co-founder's Kitty Hawk unveils is electric autonomous flying taxi

    Google co-founder's Kitty Hawk unveils is electric autonomous flying taxi

    It has a range of 100 kilometres (62 miles) and can fly at 150 kmh at an altitude of up to 900 metres (3,000 feet). The report says Kitty Hawk is already working on a taxi-hailing app, and plans to run the entire operation itself.
  • Look! Fitbit's made a watch that doesn't suck!

    Look! Fitbit's made a watch that doesn't suck!

    It will be sold in black with a black aluminum case, gray with a silver aluminum case, and peach with a rose gold aluminum case. Fitbit OS 2.0 is also coming with menstrual tracking, which Chase says was one of the most requested features by Fitbit users.
    Ben Affleck And Matt Damon Production Company Adopts Inclusion Rider

    Ben Affleck And Matt Damon Production Company Adopts Inclusion Rider

    Jordan announced on March 7 that his company, Outlier Society Productions, would add inclusion riders on all future deals. Matt Damon and Ben Affleck are going to be implementing inclusion riders at their producing company, Pearl Street Films.
    Apple updates its Made-for-iPhone (MFi) branding for accessory makers

    Apple updates its Made-for-iPhone (MFi) branding for accessory makers

    The new cable, however, would allow for a much more streamlined experience. These news specs in no way suggest that Apple is giving up on Lightning.
  • Nine CRPF personnel martyred in Maoist attack in Sukma

    Nine CRPF personnel martyred in Maoist attack in Sukma

    Sources in the force confirmed nine jawans were martyred in the attack and that another eight soldiers are extremely critical. Read this story in Bengali Still, security forces have had some success deaing with such attacks.
    Trey Burton cashes in with NFC team

    Trey Burton cashes in with NFC team

    He posted 37 catches for 327 yards and one touchdown in 2016 and 23 receptions for 248 yards and five scores in 2017. In addition to Burton, the Bears added Allen Robinson to their talent-bare pass-catching corps on Tuesday.
    Aadhaar: Supreme Court extends linking deadline indefinitely

    Aadhaar: Supreme Court extends linking deadline indefinitely

    However, this order does not apply on linking of Aadhaar with subsidies and benefits offered by the government under Section 7 . Grover, said she was asked to come back with her Aadhaar number, which she did not possess, in case she wanted her passport.
  • The Time Warner Inc (TWX) Shares Sold by WINTON GROUP Ltd

    The Time Warner Inc (TWX) Shares Sold by WINTON GROUP Ltd

    On Monday, May 2 the stock rating was downgraded by Pacific Crest to "Sector Weight". (NYSE:TWX) to report earnings on May, 2. Boston Private Wealth Ltd Liability Corporation holds 0.18% of its portfolio in Time Warner Inc. (NYSE:TWX) for 600 shares.
    Game of Thrones stars 'in tears' over ending

    Game of Thrones stars 'in tears' over ending

    All of the cast members originally signed a one-season deal, which means none of their salaries were locked in place for a potential follow-up run of episodes.
    Trump personal aide fired, escorted out without coat

    Trump personal aide fired, escorted out without coat

    Both the New York Times and Journal could not say why McEntee's security clearance had been revoked. McEntee joined the president's small team three years ago during the earliest days of the campaign.