U.S. Trade Rep. Jamieson Greer: Very concerned with Chinese non-compliance on trade agreement
U.S. Trade Representative Jamieson Greer joins 'Squawk Box' to discuss the latest on the U.S. federal trade court's tariff ruling, impact on U.S. trade negotiations, state of U.S.-China negotiations, EU trade barriers, and more.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
German court convicts four ex-Volkswagen managers of fraud in emissions scandal
The German carmaker was accused in 2015 of rigging engine control software to let diesel-powered cars pass emissions tests. View on euronews
Yahoo
2 hours ago
- Yahoo
EU Commission ‘Strongly' Regrets Trump's Threat To Increase U.S. Steel Tariffs
The European Commission said on Saturday that it 'strongly' regrets an announced increase of U.S. tariffs on steel imports and that the European Union is prepared to impose countermeasures. U.S. President Donald Trump said on Friday he planned to increase tariffs on imported steel and aluminum to 50% from 25%, putting more pressure on global steel producers and deepening his trade war. 'We strongly regret the announced increase of U.S. tariffs on steel imports from 25% to 50%,' a European Commission spokesperson said in an emailed statement. 'This decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic,' the spokesperson said, adding that 'the tariff increase also undermines ongoing efforts to reach a negotiated solution'. The spokesperson noted that the European Union had paused its countermeasures to create space for continued negotiations. 'The EU is prepared to impose countermeasures, including in response to the latest U.S. tariff increase,' the spokesperson said. 'The European Commission is currently finalising consultations on expanded countermeasures. If no mutually acceptable solution is reached, both existing and additional EU measures will automatically take effect on 14 July — or earlier, if circumstances require,' they added. Trump Goes On Bizarre Rant About Conservative He Says 'Hates America' Best Buy Cuts Sales Outlook Amid Wrestle With Trump's Tariffs Trump Says He Will Delay EU Tariffs Until July 9
Yahoo
2 hours ago
- Yahoo
EU 'strongly' regrets US plan to double steel tariffs
The EU has said it "strongly" regrets Donald Trump's surprise plan to double US tariffs on steel and aluminium in a move that risks throwing bilateral trade talks into chaos. On Friday, the US president told a rally in the steel-making city of Pittsburgh that the tariffs would rise from 25% to 50%, claiming this would boost local industry and national supplies. The European Commission told the BBC on Saturday that Trump's latest move on tariffs "undermines ongoing efforts" to reach a deal, warning about "countermeasures". This also raises questions about the UK's zero tariff deal with the US on steel and aluminium which, although agreed, has not yet been signed. A UK government spokesman said "we are engaging with the US on the implications of the latest tariff announcement and to provide clarity for industry". The UK - which left the EU following the 2016 Brexit referendum - was the first country to clinch a trade deal with the US earlier this month. Trump tariffs get to stay in place for now. What happens next? In a statement sent to the BBC on Saturday, the European Commission, the EU's executive arm, said: "We strongly regret the announced increase of US tariffs on steel imports from 25% to 50%. "This decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic. "The tariff increase also undermines ongoing efforts to reach a negotiated solution. "In good faith, the EU paused its countermeasures on 14 April to create space for continued negotiations," the statement said, warning the bloc "is prepared to impose countermeasures". On Friday, Trump announced the tariff rate on steel and aluminium imports would double to 50%, starting on Wednesday. He said the move would help boost the local steel industry and national supply, while reducing reliance on China. Trump also said that $14bn (£10bn) would be invested in the area's steel production through a partnership between US Steel and Japan's Nippon Steel, though he later told reporters he had yet to see or approve the final deal. The announcement was the latest turn in Trump's rollercoaster approach to tariffs since re-entering office in January. "There will be no layoffs and no outsourcing whatsoever, and every US steelworker will soon receive a well deserved $5,000 bonus," Trump told the crowd, filled with steelworkers, to raucous applause. US steel manufacturing has been declining in recent years, and China, India and Japan have pulled ahead as the world's top producers. Roughly a quarter of all steel used in the US is imported. The announcement comes amid a court battle over the legality of some of Trump's global tariffs, which an appeals court has allowed to continue after the Court of International Trade ordered the administration to halt the taxes. His tariffs on steel and aluminium were untouched by the lawsuit. Last week, Trump had agreed to extend a deadline to negotiate tariffs with the EU by more than a month. In April, he announced a 20% tariff - or import tax - on most EU goods, but later cut this to 10% to allow time for negotiations. Trump expressed frustration with the pace of talks and threatened to raise the tariff rate to an even higher level of 50% as soon as 1 June. But last week he wrote on social media that he was pushing his deadline back to 9 July, after a "very nice" call with Ursula von der Leyen, the European Commission chief.
