Toyota: US tariffs will 'substantially' increase car prices

President Donald Trump participates in a meeting with leaders of the steel industry at the White House

"He was making good on a campaign promise to revive US manufacturing and address a trade imbalance with China, which saw him win big in Rust Belt states like Pennsylvania where he promised to bring back jobs", Al Jazeera's Kristen Saloomey, reporting from New York, said.

"Whilst we all too well understand the frustrations of the US sector, measures such as these smack of short-termism, protectionism and would be rife with unintended consequences for global trade and for the users of steel in the US", Warren said.

The U.S. president's pledge to impose a 25 percent tariff on foreign steel risks provoking tit-for-tat retaliation across the globe and a slew of complaints to the Geneva-based WTO, which has never ruled on a dispute involving trade restrictions justified on national-security grounds.

Investors remain concerned that President Donald Trump's plan to impose tariffs on steel and aluminum will lead to retaliation from other countries.

This article is for general information purposes only.

Trump met with more than a dozen executives, including representatives from U.S. Steel Corp., Arcelor Mittal, Nucor, JW Aluminum and Century Aluminum.

The top economic adviser to Chinese President Xi Jinping is in the US to discuss trade and economic cooperation between the two countries and the visit is seen as efforts to lower trade tensions.

"All countries' steel and aluminum industries are facing difficulties", Chinese Foreign Ministry spokeswoman Hua Chunying said in Beijing, according to Reuters.

"We believe the fabricators are able to divert their exports to other Asian countries if the US situation plays out as they expect", said a source at a global trading house in Shanghai.

Researchers, though, say automation is much more of a job-killer and the United States should focus more on job training than tariffs.

US Commerce Secretary Wilbur Ross has claimed safeguard measures could actually boost developed markets, arguing that by shutting out imports, producers in every country would have to focus on supplying their home market. The fund's largest holding is Toyota and it also has a large position in Nippon Steel, which was down 4%.

The list and the other possible measures will be discussed at the next commissioners meeting, on Wednesday (7 March).

The trade deficit that President Trump decries is one of the reasons for those holdings.

"When a country Taxes our products coming in at, say, 50%, and we Tax the same product coming into our country at ZERO, not fair or smart", Trump wrote.

U.S. Steel (X) and AK Steel (AKS) soared 6% and 10%, respectively, on Thursday.

The Dow Jones industrial average sank 223 points, or 0.9 percent, to 24,389.

South Korea, a key US ally that shipped 3.6 million tons of steel products to the US in 2017, said it would continue to talk to the Trump administration in hopes of minimizing damage to its economy. "The EU will react firmly and commensurately to defend our interests".

Sarah Huckabee Sanders said Friday that the "president is still focused on long term economic fundamentals".

Fears of a growing trade war sparked selloffs on Wall Street and in Asia and Europe, hitting the share prices of steelmakers and manufacturers supplying American markets particularly hard.

Nouvelles connexes:

Nouvelles chaudes

isis-killer-beheading-video-story-top Shooting survivors become advocates for stronger gun laws
Fév 25, 2018 - 13:18
Being pro-active matters, she added. "He seemed to be doing better", Mr Lewis said. "We will make this a top priority". Cruz also had been expelled from the high school for an undisclosed reason, Broward County Sheriff Scott Israel said.

isis-killer-beheading-video-story-top US defeats neighbors in women's hockey, curling — Woe Canada
Fév 23, 2018 - 01:48
Following Lamoureux-Davidson's epic goal, U.S.A's Maddie Rooney stoned Meghan Agosta on the ensuing shot to secure the gold. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text.

isis-killer-beheading-video-story-top L'étonnante prédiction de Johnny Hallyday — Laeticia
Fév 22, 2018 - 16:57
Afin de rendre hommage à son ex-mari, la chanteuse se produira sur la scène du Grand Rex à Paris, le 16 mars prochain. Il n'y avait aucune raison de penser que les choses ne continueraient pas dans un esprit comme ça, familial ".

isis-killer-beheading-video-story-top Dominique Bussereau quitte Les Républicains — Affaire Wauquiez
Fév 22, 2018 - 00:56
C'est une très bonne chose car on préfère nettement être jugé par la justice que par Laurent Wauquiez . Ensuite, je ne l'ai pas laissé en placer une ", se serait vanté l'ancien président à ses proches.

isis-killer-beheading-video-story-top Arsene Wenger cautious over comparing Pierre-Emerick Aubameyang with Thierry Henry
Fév 16, 2018 - 05:39
Wenger seems delighted with the way his new signing has begun, Mirror reported. "The gap is not massive but it will be tough". It comes as no surprise that Henrikh Mkhitaryan and Jose Mourinho didn't have the greatest relationship.

isis-killer-beheading-video-story-top Ici, c'est Madrid — Ligue des Champions
Fév 15, 2018 - 23:55
Mais pour " Zizou ", la qualification n'est pas encore assurée: " Il faut penser au retour, car ce sera un autre match . Alors que la presse française est déçue mais pas abattue, les journaux madrilènes ont mis en avant Cristiano Ronaldo .

isis-killer-beheading-video-story-top TPMP (C8) - Valérie Benaïm : "Laeticia Hallyday est effondrée"
Fév 15, 2018 - 23:08
Alors que Laura Smet et Laeticia Hallyday s'opposent déjà autour des volontés du rockeur, le testament continue de parler. Il remercie Laeticia , il remercie Jade , il remercie Joy , il ne remercie ni David , ni Laura , qui sont là.

isis-killer-beheading-video-story-top Why Arsenal's January Transfers Won't Ensure Top-Four Premier League Finish
Fév 15, 2018 - 10:52
Languishing in sixth place in the Premier League , Wenger's side are however just four points behind fifth placed Tottenham . All three can play intricate passing combinations, but the graphic below shows how each offer variations in range.

isis-killer-beheading-video-story-top Winter Olympics 2018 opening ceremony - STUNNING pictures from Pyeongchang historic event
Fév 11, 2018 - 14:27
However, Pence could not avoid being seated close to both Kim Yong-nam and Kim Yo-jong in the VIP box at the Opening Ceremony. Russia's athletes entered Friday's ceremony behind a neutral flag after their team was suspended over a doping scandal.

isis-killer-beheading-video-story-top Local African immigrants respond to president's comment
Fév 10, 2018 - 19:20
Don't get all upset, don't start criticizing, yelling. "There is no other word you can use but 'racist'". He reiterated his call for ending chain migration and the lottery route to immigration.

isis-killer-beheading-video-story-top Here's Trump's Next Move On House Intel Democrats' FISA Memo
Fév 09, 2018 - 09:20
Democrats desperately tried to prevent the Nunes memo's release then mocked its contents when the suppression effort failed. Trump tweeted that Schiff is "one of the biggest liars and leakers in Washington" and "must be stopped".

isis-killer-beheading-video-story-top Rooney tips Kane to leave Spurs
Fév 08, 2018 - 01:13
Mauricio Pochettino congratulated Moss on his performance, saying the match officials "were right in every single decision. I said, 'I'm gonna prove to you that I should be starting on this team".

isis-killer-beheading-video-story-top Biggest Value Dive in Six Years — Wall Street Plunge
Fév 07, 2018 - 17:17
Talking to reporters aboard Air Force One, White House Deputy Press Secretary Raj Shah downplayed the sudden Dow drop . What happened in the US? . "If it now takes hold and gets out of control, central banks will be forced into action".

isis-killer-beheading-video-story-top DOW Falls Almost 1200 points, Markets Internationally Also Falling
Fév 07, 2018 - 14:59
On Friday there was a hefty 4% loss for shares in Apple , which had been one of the markets' star performers in recent years. After a volatile session Tuesday, the S&P 500 closed with its biggest gain since November 2016.

isis-killer-beheading-video-story-top Polling analysis: State of the Union speeches attract high approval ratings
Fév 07, 2018 - 13:03
If we break out presidential speeches by themselves using data from Nielsen , the trend looks a little different. And while we're at it, I thought the oddest visual from the Democrats on Tuesday night was from Rep.