Republicans, Biz Leaders Push Back on Tariffs as Trump Preps Thursday Meeting Republicans, Biz Leaders Push Back on Tariffs as Trump Preps Thursday Meeting – NTK Network

Republicans, Biz Leaders Push Back on Tariffs as Trump Preps Thursday Meeting

Will President Trump levy new tariffs on imports of steel and aluminum on Thursday? It's still unclear, but the GOP and business leaders are pushing back.

By NTK Staff | 03.08.2018 @12:00pm
Republicans, Biz Leaders Push Back on Tariffs as Trump Preps Thursday Meeting

President Trump may or may not roll out new tariffs on imports of steel and aluminum on Thursday, with dueling tweets suggesting the president is 1) holding a 3:30pm meeting with U.S. steel and aluminum producers, and 2) making a “symbolic,” and not a “finalized,” tariff announcement.

Whether tariffs actually happen or not, Trump can expect a continued pushback from his Republican allies in Congress and from business leaders who have largely celebrated his tax cuts and his deregulatory agenda over the last year.

The Associated Press (AP) reported on the pushback:

Congressional Republicans and business groups are bracing for the impact of expected tariffs of 25 percent on imported steel and 10 percent on aluminum, appearing resigned to additional protectionist trade actions as Trump signals upcoming economic battles with China.

…Business leaders, meanwhile, continued to sound the alarm about the potential economic fallout from tariffs, with the president and CEO of the U.S. Chamber of Commerce raising the specter of a global trade war.

The AP also reported that Canada and Mexico will win “temporary exemptions,” while the U.S. renegotiates the North American Free Trade Agreement (NAFTA) with its two neighbors.

Meanwhile, Charles Koch wrote an op-ed for The Washington Post, published Wednesday, that tariffs could threaten the economic progress made on Trump’s watch.

The administration’s recent decision to impose major steel and aluminum tariffs — on top of higher tariffs on washing machines and solar panels — will have the same harmful effect. Without a doubt, those who can least afford it will be harmed the most. Having just helped consumers keep more of their money by passing tax reform, it makes little sense to take it away via higher costs.

What will the president do on Thursday? Perhaps only he knows.

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