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By: Ingrid Angulo
Clearbridge Investments strategist Jeffrey Schulze tells CNBC's "Power Lunch" that trouble with China is a bigger threat than the tariffs. » Read More |
By: Kellie Ell
President Trump's steel and aluminum tariffs would affect U.S. allies, not China, says former U.S. trade representative. » Read More |
By: Evelyn Cheng
Chinese officials urged the U.S. to support global trade in the wake of President Trump's announcement of new steel and aluminum tariffs. » Read More |
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They have received 107 reports of the multicooker overheating, including five instances when it caused property damage, USA Today reports.
- Former Trump and Obama advisors both blast China as biggest trade cheater but differ on the remedies
The big question is whether the Trump administration will give favored trade partners like Canada an exemption from the tariffs.
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The Hurun Report found 152 wealthy delegates to the National People's Congress and its advisory body.
Despite posting better-than-expected revenue for the quarter, net income was down 17.7 percent.
Asia, which produces more than two-thirds of the world's steel, will be minimally affected by the tariffs while Canada will be hardest hit, says Moody's.
Peterson Institute President Adam Posen tells CNBC that the Trump tariffs on steel and aluminum imports are "straight up stupid."
China could target soybeans in a trade dispute with the U.S., but it's unlikely to do that just to counter steel and aluminum tariffs.
The global steel market is recovering, making the timing of the proposed U.S. tariffs is "sort of weird" if targeted at China, says Julien Hall of S&P Global Platts.
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Heavy tariffs on imports will come back to hurt U.S. if other countries move toward protectionism too, said a former USTR.
Ron Kirk, a former U.S. trade representative, said steel and aluminium import tariffs could invite retaliation from U.S. trading partners.
The impact of import tariffs on steel and aluminum would not hit China hard, and the response would likely be incremental, says Hans Hendrischke of the University of Sydney Business School.
The amount of steel that goes into a car is "a pretty small part of the total costs", says Janet Lewis of Macquarie Capital Securities.
The U.S. stance on Taiwan or other regional issues may add fuel to any wider trade spat between the U.S. and China, says Ken Peng of Citi Private Bank.
Jake Parker of the US-China Business Council says "a coalition of like-minded countries" is required to address the issue of steel overcapacity with China.
Proposed import tariffs by the U.S. on steel and aluminum could be met with curbs on U.S. exports of items like soybeans to China, says Haiyan Wang, a professor at INSEAD in Washington, D.C.
Andrew Freris of Ecognosis Advisory says past American presidents have attempted to impose import tariffs on steel to little effect.
