European Union lists United States products that could face tariffs as trade war looms

European Union lists United States products that could face tariffs as trade war looms

European Union lists United States products that could face tariffs as trade war looms

The White House has confirmed that President Trump is negotiating with different countries on possible new US tariffs on imports of steel and aluminum.

"Tariffs would be particularly harmful", they said.

The business groups wrote a letter to Trump on Sunday acknowledging "serious concerns" regarding what they described as China's theft of trade secrets and other practices and policies, but they urged a measured response that avoided tariffs.

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The Trump administration is said to be preparing tariffs against Chinese IT, telecoms and consumer products in an attempt to force changes in Beijing's intellectual property and investment practices.

The exclusion rules have been anxiously awaited by manufacturing companies since President Donald Trump announced the tariffs on March 7 to protect domestic steel and aluminum producers on national security grounds.

Worries about the potential for a US-China trade war and frustration over Trump's steel and aluminum tariffs are likely to dominate discussions during a gathering of G20 finance leaders in Buenos Aires this week.

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Meanwhile, representatives from the domestic steel industry have also headed to the U.S.in various groups to seek talks with US congressional leaders through their customers there, Shen said.

But he is likely to hear pleas for exemptions from the steel and aluminum tariffs.

The domestic steel industry said that with the US representing Taiwan's largest steel export market, accounting for 13 percent of the country's steel exports, the imposition of the tariffs on steel imports from Taiwan is expected to have a significant impact on the industry, and it expressed hope that the government will seek the most favorable conditions for the industry to reduce the impact. Manufactured products comprised more than 85 percent of exported goods from the U.S.in 2017, totaling $1.3 trillion, the trade associations said.

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