Taiwan to seek exemption from United States steel tariffs

Donald Trump

Taiwan to seek exemption from United States steel tariffs

Wall-Mart shares closed higher Friday, ahead of a letter sent by the Retail Industry Leaders Association (RILA) to the White House, highlighting the potential damage the tariffs usa president Trump is planning for China, could have on the United States economy.

Retailers opposing the tariffs say more than $60 billion in tariffs could target products ranging from electronics to apparel, footwear and toys.

The groups called on Trump to work with trade allies to push for changes to China's policies.

A number of business groups are also arguing against further sanctions, including the U.S. Chamber of Commerce, several tech groups and trade associations that represent retailers, agriculture, telecommunications, clothing and the auto parts industry.

Trump announced recently that he would impose tariffs of 25 percent on steel imports and 10 percent on aluminum imports.

On Monday, Walmart, Ikea, Target and nine other large retail brands in the USA signed a petition to urge the Trump administration to halt the anti-China tariff plan.

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The letter read "we urge the administration not to impose tariffs and to work with the business community to find an effective, but measured, solution to China's protectionist trade policies and practices that protects American jobs and competitiveness".

"Save manufacturing jobs and say no to steel tariffs", the ad says.

Kohl's is the latest Wisconsin-based company to publicly denounce Trump's proposed tariffs. Trump said the Chinese government had forced USA companies to transfer their intellectual property to China as a cost of doing business there.

A Taiwanese delegation led by John Deng (鄧振中), Taiwan's top trade negotiator, departed Sunday for the United States with the aim of seeking an exemption from the Donald Trump administration's new tariffs on steel and aluminum imports.

"If this interim final rule was delayed to allow for public comment or for 30 days before companies in the US were allowed to request exclusions, ...those entities could face significant economic hardship that could potentially create a detrimental effect on the general USA economy", it said.

An early draft of the G20 communique seen by Reuters contained that phrase and added: "We note the importance of bilateral, regional and plurilateral agreements being open, transparent, inclusive and WTO-consistent, and commit to working to ensure they complement the multilateral trade agreements".

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