Return to News Categories

Commentary and Educational Cattle - Hogs / Livestock News Currencies News Energy News Grain News Index News Interest Futures News Metals Futures News Reports: Crops, CFTC, etc Soft Commodities News

Futures and Commodity Market News

United States : Johnson Highlights Concerns With Planned Tariffs

Mar 08, 2018 (Euclid Infotech Ltd via COMTEX) --

During an appearance on Bloomberg News Wednesday, U.S. Sen. Ron Johnson (R-Wis.) explained his concerns with the administrations plan to enact tariffs on aluminum and steel that could negatively affect Wisconsin consumers and manufacturers, and underscored the importance of Congress role in trade.

Excerpts from Senator Johnsons appearance are below and video can be found here.

The president said he enjoys conflict. Markets dont like conflict, investors dont like conflict. Markets like stability and certainty and so do investors. I am highly concerned with this administrations move that could spark a trade war. The president claims we could win a trade war - I dont think anybody does. Thered be an awful lot of collateral damage.

I would much rather export $2.3 trillion from America and tolerate a half trillion dollar trade deficit than have balanced trade or maybe even surplus but we only export a trillion dollars. I think trading activity is good for the global economy, for the American economy, and the American worker as well, so I am highly concerned about this administrations steps that they are taking on tariffs.

Im hoping this administration tailors this specifically to address the real abusers and hold harmless our allies and trading our partners.

One of the reasons Im on this program is to provide advice to the president: Please dont do this. Target the real abuses and lets hold harmless and lets strengthen our relationship with our strong allies. It is better for America and American workers and Wisconsin workers. ... In Wisconsin we have a trade surplus with both Canada and Mexico.

I think we have ceded far too much authority when it comes to trade and tariffs to the president. I completely agree, we need one negotiator, but as in the case of trade agreements and trade treaties, Congress should have a say. We should be approving these types of moves and not just give the president unilateral authority.

Please read the End User Agreement.
By accessing this page, you agree to the terms and conditions of the End User Agreement.

News provided by COMTEX.

Lt Crude 62.26
Nat Gas 2.660
Corn 375 6/8
Cotton #2 81.30
Gold 1316.0
Copper 3.0795
Euro 1.23155
USD Index 89.983
SP500 E-mini 2722.75
DJIA E-mini 24671