US President Donald Trump waves upon his arrival in West Palm Beach, Florida on March 2, 2018. Kevin Lamarque / Reuters
US President Donald Trump waves upon his arrival in West Palm Beach, Florida on March 2, 2018. Kevin Lamarque / Reuters
US President Donald Trump waves upon his arrival in West Palm Beach, Florida on March 2, 2018. Kevin Lamarque / Reuters
US President Donald Trump waves upon his arrival in West Palm Beach, Florida on March 2, 2018. Kevin Lamarque / Reuters

Trump's metal tariffs plan sparks backlash at home and abroad


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US president Donald Trump is facing a backlash both at home and abroad after his plan to impose steep tariffs on metal imports sparked talk of a global trade war.

After proposing tariffs of 25 per cent on steel and 10 per cent on aluminium from other countries on Thursday, Mr Trump warned on Twitter the following day that "trade wars are good, and easy to win".

China's Commerce Ministry shot back later on Friday, saying Mr Trump's plan would "seriously damage multilateral trade mechanisms represented by the World Trade Organisation and will surely have huge impact on normal international trade order", the Associated Press reported.

The European Union, meanwhile, has drawn up a list of US products on which to apply tariffs if Mr Trump follows through on his plan.

"We will put tariffs on Harley-Davidson, on bourbon and on blue jeans – Levi's," European Commission President Jean-Claude Juncker told German television, according to Reuters.

Canada, the biggest supplier of steel and aluminium to the US, will bear the brunt of Mr Trump's plans if they come to fruition.

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Read more: Trump’s new trade war is absurd national and economic policy – but it’s great posturing and exactly what he promised

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Canadian Prime Minister Justin Trudeau said any US tariffs on steel and aluminium would be "absolutely unacceptable" and vowed to continue to engage with American officials on the issue.

The International Monetary Fund also expressed concern, saying the proposed tariffs would likely damage the US economy and those of other nations.

Mr Trump's announcement came as Chinese President Xi Jinping's top economic adviser, Liu He, was in the US on a visit. He had been tasked with bringing a conciliatory message to China's largest trading partner but his trip was overshadowed by the US president's shock plans.

Mr Liu told US business leaders in Washington that Beijing hoped the White House will revive high-level dialogue on economic disputes and name a new chief liaison to defuse mounting trade tensions, a person briefed on the matter told the Associated Press.

The adviser was speaking at an event with executives including former US Treasury Secretary Hank Paulson and the CEOs of JP Morgan Chase and chipmaker Qualcomm.

Mr Liu said he would take charge of reform efforts this month and wants a list of US demands for what China could do to ease tensions, according to the source.

In the US capitol, Mr Trump's controversial proposal has provoked rarely seen urgency among Republican lawmakers, who are scrambling to convince the president he will spark a trade war that could stall the economy's recent gains if he does not reverse course.

The issue pits Mr Trump's populist promises to his voters against the Republican party's free trade orthodoxy and the interests of business leaders. And unlike recent immigration and gun policy changes that require legislation, Mr Trump can alter trade policy by executive action. That intensifies the pressure on congressional Republicans to change his mind before he gives his final approval for the penalties as early as next week.

Speaker of the House of Representatives Paul Ryan called Mr Trump after the president's surprise announcement, and continues to hope the White House will reconsider the decision, according to the Associated Press. Senior lawmakers, including Senator Ben Sasse, have also offered the president their own private counsel. Some are appealing to his desire for a robust stock market and warning the tariffs could unravel some of the gains they attribute to the tax bill he signed last year.

Representative Kevin Brady, chairman of the House Ways and Means Committee, tried one of the most direct lines that lawmakers have to the White House: Talking to Mr Trump through cable TV news.

"The president has not yet issued these tariffs," Mr Brady told Fox News on Thursday, hours after Mr Trump announced the tariff targets. "He's been continuing to listen."

Listening to various viewpoints, though, has never been the gripe against Mr Trump.

Unlike former President Barack Obama, who often irked lawmakers for lecturing them during meetings, Mr Trump retains a level of popularity among Capitol Hill Republicans in part because he's more than happy to invite lawmakers in and hear them out. But problems have arisen when members of the legislative branch leave the White House under the impression that Mr Trump is on their side – or at least willing to consider their views – only to find out later that his support has drifted away.

And while Republicans in Congress have learnt to ignore Mr Trump's policy whims – knowing whatever he says one day on guns, immigration or other complicated issues could very well change by the next – on trade tariffs, they say the stakes are too high for them to sit back and wait for Mr Trump to change his mind. Indeed, their relentless public condemnation of the tariffs has been notably sharper than their typical handling of the president's policy whims.

Not wise, said Senator Orrin Hatch. A "big mistake," said Senator Pat Toomey. "Kooky," said Mr Sasse.

Republican lawmakers, and some outside groups, want Mr Trump to at least consider a more targeted approach, or exemptions for countries that engage in what they view as fair trade practices.

"We're all urging the president, look, continue to narrow this to these unfairly targeted products," Mr Brady said.

2019 ASIAN CUP FINAL

Japan v Qatar
Friday, 6pm
Zayed Sports City Stadium, Abu Dhabi

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

Company%20Profile
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The Facility’s Versatility

Between the start of the 2020 IPL on September 20, and the end of the Pakistan Super League this coming Thursday, the Zayed Cricket Stadium has had an unprecedented amount of traffic.
Never before has a ground in this country – or perhaps anywhere in the world – had such a volume of major-match cricket.
And yet scoring has remained high, and Abu Dhabi has seen some classic encounters in every format of the game.
 
October 18, IPL, Kolkata Knight Riders tied with Sunrisers Hyderabad
The two playoff-chasing sides put on 163 apiece, before Kolkata went on to win the Super Over
 
January 8, ODI, UAE beat Ireland by six wickets
A century by CP Rizwan underpinned one of UAE’s greatest ever wins, as they chased 270 to win with an over to spare
 
February 6, T10, Northern Warriors beat Delhi Bulls by eight wickets
The final of the T10 was chiefly memorable for a ferocious over of fast bowling from Fidel Edwards to Nicholas Pooran
 
March 14, Test, Afghanistan beat Zimbabwe by six wickets
Eleven wickets for Rashid Khan, 1,305 runs scored in five days, and a last session finish
 
June 17, PSL, Islamabad United beat Peshawar Zalmi by 15 runs
Usman Khawaja scored a hundred as Islamabad posted the highest score ever by a Pakistan team in T20 cricket

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Iran's dirty tricks to dodge sanctions

There’s increased scrutiny on the tricks being used to keep commodities flowing to and from blacklisted countries. Here’s a description of how some work.

1 Going Dark

A common method to transport Iranian oil with stealth is to turn off the Automatic Identification System, an electronic device that pinpoints a ship’s location. Known as going dark, a vessel flicks the switch before berthing and typically reappears days later, masking the location of its load or discharge port.

2. Ship-to-Ship Transfers

A first vessel will take its clandestine cargo away from the country in question before transferring it to a waiting ship, all of this happening out of sight. The vessels will then sail in different directions. For about a third of Iranian exports, more than one tanker typically handles a load before it’s delivered to its final destination, analysts say.

3. Fake Destinations

Signaling the wrong destination to load or unload is another technique. Ships that intend to take cargo from Iran may indicate their loading ports in sanction-free places like Iraq. Ships can keep changing their destinations and end up not berthing at any of them.

4. Rebranded Barrels

Iranian barrels can also be rebranded as oil from a nation free from sanctions such as Iraq. The countries share fields along their border and the crude has similar characteristics. Oil from these deposits can be trucked out to another port and documents forged to hide Iran as the origin.

* Bloomberg

COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine