Wall St rolls higher as Trump softens tariff stance to 'friendly' nations

Hope Hicks

Pool Getty Images

Colorado's congressional delegation includes some of the prominent Republicans pushing back on President Trump's announcement Thursday afternoon to place a 25 percent tariff on steel and 10 percent on aluminum imports.

Exemptions will be allowed initially for Canada and Mexico, the president said, pending the outcome of ongoing renegotiation of Nafta. The people spoke on condition of anonymity ahead of the president's signing of the orders.

Seko did not go into what conditions might allow Japan to evade tariffs and, asked if Lighthizer had brought up the USA trade deficit with Japan, Seko said no. "I just want fairness".

Sen. Cory Gardner, R-Yuma, said he agreed with Trump's view that the USA needs fair trade agreements, but he thinks Trump's broad tariffs could misfire instead of deliver higher wages and economic growth.

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Canada and Mexico are exempt from the tariffs, but only conditionally and for now.

President Trump took a moment during Thursday's cabinet meeting to bid farewell to his departing economic adviser Gary Cohn, but did so using language sometimes accused of having anti-Semitic characteristics.

China's Commerce Ministry said it "firmly opposes" Trump's move but gave no indication whether Beijing might make good on threats to retaliate. And now, thanks to reporters at The Verge, we know which games Trump and the White House think "may be inadvertently training the next mass shooter".

Some who favor getting the government involved in gaming restrictions said they'd also like for the White House to focus not only on games, but on other forms of media - TV, film, and music - where violence often shows up.

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"There is a certain worry or concern about the state of global relations, because if you put tariffs against what are your allies, one wonders who the enemies are", Draghi said. Baoshan Iron & Steel was down 3.5 percent by 0014 GMT, while Hesteel and Beijing Shougang were down more than 1 percent. The President's spokesperson Sarah Sanders says if it's seen in the nation's security interest some nations may be dropped off the list.

After criticizing video games in the wake of a school shooting in Florida last month, U.S. President Donald Trump will meet with industry executives on Thursday to discuss what the president believes is a link between the games and violent acts. That scenario, Tom Donohue said, would endanger the economic momentum from the GOP tax cuts and Trump's rollback of regulations.

Foreign Minister Wang Yi said China and the U.S. should aim to be partners rather than rivals.

Trump said the tariff hikes ordered Thursday were needed to protect USA national security by ensuring the survival of the country's metals producers.

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So now it appears Canada, our top exporter of steel, and Mexico, our fourth most important steel exporter, will be exempt from the tariffs, significantly weakening the impact of the policy.

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