-U.S. Republican Sen. Jeff Flakesaid on Thursday he would introduce a bill to nullify President Donald Trump's aluminum and steel tariffs, which Trump finalized in a proclamation earlier in the day.
On March 8, Trump signed two executive orders that will enact broaden tariffs of 25 per cent on steel and 10 per cent on aluminium.
Historically proponents of free trade, several Republicans dubbed the measures "stupid" and "misguided" - if the United States increases the cost of both materials, they hold, American producers of vehicles and other products will suffer setbacks on the worldwide playing field, and consumers will pay more.
Such an alliance has incensed Republicans, even those closest to Trump, who are concerned the tariff push will undermine the benefits they hope to reap from a good economy and new tax cuts while boosting rivals they need to defeat in November.
In an impassioned speech on the Senate floor, Flake upheld his promise to immediately nullify "this very unfortunate exercise in protectionism" which he first promised after the so-called "ill-conceived" tariffs were first announced last week.
Asked by host Chuck Todd if he regrets his decision to retire from the Senate, Flake noted that he wasn't leaving Congress because he has any "ill will" towards the institution or his colleagues, adding that he loved Congress. Australia, all right. What are you going to do for me?' Or wake up one day and say, 'You know, let's impose more tariffs here or there, ' that's an bad situation to be. "There may be people who lose less". Trump noted during the White House event that they will take effect within 15 days.
Europe and China lashed out against the president's tariff plan.
Many Republicans hold that imposing tariffs on steel and aluminum are an abuse of this law and are pushing to restrict it.
So now it appears Canada, our top exporter of steel, and Mexico, our fourth most important steel exporter, will be exempt from the tariffs, significantly weakening the impact of the policy.
Even then, Congress will have the opportunity to oppose the extension by passing a resolution of disapproval.
"I understand free trade is sometimes a challenge".