Donald Trump will announce taxes on steel and aluminum "very fair"

US President Donald Trump pledged that the import taxes on steel and aluminum he will enact on Thursday will be "very fair", citing possible exemptions for Mexico , Canada, Australia "and other" countries. "We will be very fair, we will be very flexible," Donald Trump launched a few hours before the promulgation of these taxes, whose announcement has rekindled the specter of a trade war between the United States ] and many of his allies, while creating disagreements within his own Republican Party and within the White House .

The signing will take place at 3:30 pm (8:30 pm GMT), announced the US executive in a statement. Donald Trump announced just a week ago his intention to impose 25% steel imports and 10% aluminum. In brief statements to the press in the presence of key members of his administration, he hinted Thursday that some countries could escape these tariffs.

"We have very good relations with Australia, we have a surplus Australia, a great country, a partner for a long time, we will do something with them, "he said. "We will do something with other countries", he added, while being very critical of Germany, on the issue of trade but also its spending on defense within NATO .

The US President also confirmed that his decision on Mexico and Canada would ultimately depend on the outcome of the ongoing negotiations on the North Free Trade Agreement. American (Alena) uniting the United States and these two countries. "If we find an agreement, it is very likely that we will not impose taxes on these two countries," he said.

"Great flexibility"

He had mentioned earlier in a tweet the need to protect the US steel and aluminum industries while demonstrating "great flexibility and cooperation with those who are true friends and treat us fairly in both trade and defense" . Canada, the largest trading partner and the largest steel supplier in the United States, has been heavily lobbying the Trump administration in recent days.

Canadian Foreign Minister Chrystia Freeland met with Republican leader Paul Ryan, who himself urged the US president not to apply taxes for all countries. In the face of the outcry around the world, White House spokeswoman Sarah Sanders said Wednesday that there could be "waivers" for Mexico and Canada and "potentially other countries"

US Secretary of Commerce Wilbur Ross and Treasury Secretary Steven Mnuchin had also shown signs of appeasement. The relaxation of the Republican president's tone also coincides with the demand of a hundred Republican elected representatives of the House of Representatives not to impose uniform taxes.

On the external plane, Washington has attracted the wrath of the European Union which has hammered out that a trade war would be harmful to all parties including the United States. "It is now time for political leaders on both sides of the Atlantic to act responsibly," urged European Council President Donald Tusk, adding that the dispute will be on the agenda of the next EU summit in Brussels on 22 and March 23.

One of the Vice-Presidents of the European Commission Jyrki Katainen on Thursday made a regulatory provision: Donald Trump can not exempt a member state of the EU from taxes without mechanically driving an exemption from all EU. Well before the promulgation of these taxes, the EU has prepared a response. Commissioner for Foreign Trade Cecilia Malmström has detailed a list of American products that could be taxed, including the famous peanut butter, to compensate in value the damage caused to the European industry.

Europeans export about 5 billion euros of steel and 1 billion euros of aluminum each year to the United States. Thursday, European Central Bank President Mario Draghi is in turn on the rise, fearing that the escalation of protectionist measures does not compromise growth. On the side of other trading partners, Beijing said Thursday it would adopt a "appropriate and necessary response" to possible US trade sanctions. "In our globalized world, those who resort to commercial warfare choose the wrong remedy, they will only penalize others while penalizing themselves," said Foreign Minister Wang Yi.

(with AFP)

Steel and Aluminum Taxes: These Trump Shock Protectionist Announcements Tremble the World

Is Donald Trump about to start a global trade war with his major trading partners? The US president announced Thursday (March 1st) that he will hit high taxes on imports of steel and aluminum to United States . "I will promulgate them next week," said the US president during a meeting at the White House with US steel and aluminum producers. "And they will be applied for a long time," he said. The US president has raised tariffs of 25 percent for steel and 10 percent for aluminum, but does not specify which countries they will target.

"You will have to rebuild your industries," said Donald Trump. industrialists he received, adding that cheap imports into the United States "are destroying our businesses and jobs". The statements come as Liu He, the Chinese president's economic advisor, is visiting Washington. He had to meet White House officials but not Donald Trump, US officials told AFP.

Donald Trump had in principle until April 11 in the case of steel and until April 19 in the case of aluminum, to decide on measures aimed at imports into the United States that it accuses of being subsidized and sold at prices lower than their production costs (dumping). The statements of Donald Trump will finally have revealed the main points in short statements.

But these have helped accelerate the fall of Wall Street whose index DJIA lost more than 2% around 20:00 GMT , weighed down by the sharp decline of export companies like Boeing, Caterpillar and United Technologies which lost more than 3%.

Fed Alert

US Central Bank (Fed) President Jerome Powell, who comes from take office after being appointed by Donald Trump, also expressed his reluctance to the weapon of trade sanctions, saying in a hearing before the Senate that "customs duties were not the best approach "and that" in general "trade had a" positive impact "on the economy

The Trump administration unveiled in mid-February three scenarios to tax imports of aluminum steel, highlighting the need to preserve national security and jobs in the United States. The first option would be to tax all imports of these two sectors considered strategic, the second proposes an even higher taxation to some countries and the third would see the introduction of quotas, explained the Minister of Commerce Wilbur Ross. 19659002] In detail, a tax of at least 24% is envisaged on all steel imports irrespective of the country of origin; or a tax of at least 53% on those from twelve countries including China, Russia, Brazil, South Korea and Turkey; or a quota equivalent to 63% of imports from each country based on 2017 quantities. Proposals for aluminum are similar with a general taxation of at least 7.7%, or at least 23.6% % of those from China, Hong Kong, Russia, Venezuela and Vietnam. The quota option would be 86.7% of imports based on 2017.

The United States is the largest steel importer in the world. Their imports are nearly four times greater than their exports, lamented Wilbur Ross, also accusing China of producing "every month on average almost all the annual needs of the United States." The US president's statements are waking up fears of a global trade war, with China, the second-largest trading partner of the United States, having warned that it will not stand idly by US protectionist measures. Yet this country is far from being the largest supplier of steel in the United States, accounting for less than 2% of total imports. These are mainly from Canada (16%), Brazil (13%) and South Korea (10%).

(with AFP)

Bill Gates judges he should pay more taxes and tackles Trump's tax reform




on 19.02.2018 at 16:35

"I paid more taxes, more than ten billion dollars, than anyone but the government should demand people in my position to pay much higher taxes, "said Bill Gates, co-founder of Microsoft, vilifying the tax reform Donald Trump.

 Bill Gates judges he should pay more taxes

Billionaire Bill Gates on 13 February 2018 in New York

GETTY IMAGES NORTH AMERICA / AFP / Archives – John Lamparski

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Billionaire Bill Gates on February 13, 2018 in New York. 19659008] The American billionaire Bill Gates believes that he should, as well as all the wealthy taxpayers in the United States, pay more taxes, qualifying the tax reform President Donald Trump of "regressive". "I should pay more taxes, "Bill Gates told CNN. "I paid more taxes, more than ten billion dollars, than anyone else but the government should require people in my position to pay much higher taxes."

>> ALSO READ Taxation: Donald Trump, more than ever president of the rich

Second richest man in the world behind the founder of Amazon Jeff Bezos the co-founder of Microsoft has a fortune estimated at more than 90 billion dollars of which he directed a large part towards humanitarian causes and medical research in particular.

"A regressive tax law"

He did not mince his words towards the reform Donald Trump's tax bill passed at the end of December by the Congress –in the hands of Republicans – which granted significant reductions to businesses. Their tax rate has thus fallen from 35% to 21% and multinationals can temporarily repatriate their profits abroad to the United States at rates ranging between 8% and 15.5%. Before the reform, these profits were totally exempt from taxation as long as they remained "parked" abroad and found themselves taxed at 35% if they were "repatriated" to the United States.

"This n is not a progressive tax law, it's a regressive tax law, "Bill Gates said, arguing that the benefits would be felt by the super-rich, contrary to the Republicans' claims that the reform is aimed at benefiting workers and the class. average. "The richest people tend to have much higher benefits than the middle class or the poor, so it's contrary to the general trend that we prefer to see with enhanced safety nets and those who are at home. top who pay higher taxes, "commented the billionaire.

(with AFP)

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