in the news

As known on US customs tax, Mexico, Canada, and Europe are temporarily relieved of added charge in importing of steel and aluminum, since they are in subject for negotiation. However, on May 31, 2018, US denied these allies of exemption on added customs tariff for importing said products – tariff on steel having 25% whilst aluminum at 10%.

 

Although the sole reason is to keep steel and aluminum produce of US manufacturers stronger, it does not add up to economic ties and has been getting hit backs from their allies which will lead to trade war. Salbæk Technology Group will, as a result of USA and President Trump’s return to the dark ages and there imposing of customs tax on European steel and aluminum, stop using any American product. May this be Coca Cola, Apple I phones or Levis jean’s – these supplier products will be replaced by Non-American products on future purchase.

 

Gunnar Salbæk, CEO of STG, stated, “…through the years being a big personal fan of the before mentioned American products, so it is with great disappointment, we find it needed to take these so drastic actions, but we cannot just stand and see USA bully the rest of the word around and let their own greed take over common sense and throw away the gains of a free and open world, that has been created through the last centuries”.

 

Mexico and Canada raised their own pitch for such dangerous policy while Europe are in disagreement. Although US is not excluding all countries and it is informed that other nations could be granted special exception as long as they apply for such and must not imperil national security, economists believes that imposing those import tax does not protect the steel industry. Mirroring 1931 Smooth-Hawley Tariff Act which led to the Great Depression.

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