Russia Challenges Trump Tariffs, But Will the White House Budge?
*By Christian Smith*
Pressure continues to mount on President Donald Trump to walk back his tariff policy, with Russia becoming the seventh World Trade Organization member to officially challenge the White House's duties on steel and aluminum.
And while the organization will take up these cases, Politico trade reporter Megan Cassella said the process will likely take a long time to play out.
"The WTO doesn't tend to do anything quickly," Cassella said in an interview on Cheddar Tuesday.
Even if the WTO, an intergovernmental agency that overseas international trade, does eventually come to a conclusion, the U.S. could still avoid any repercussions.
"Given the Trump administration's sort of disdain for the WTO and its legal rulings, it's also possible that, even if they do eventually come to a conclusion, Trump might just say, 'Well you know, that's it then, that's the end of the U.S. membership in the WTO'," Cassella noted.
Russia's appeal filed last week cites "numerous violations of WTO rules by the United States in introducing this measure," said Russian Economic Development Minister Maksim Oreshkin in a [statement](https://www.rt.com/business/431256-russia-tariffs-us-good/).
The 25 percent tax on foreign steel and 10 percent tax on foreign aluminum took effect June 1. The Trump administration justified the tariffs using the 1962 Trade Expansion Act, which grants the president the power to restrict imports to protect national security.
But not everyone is buying into the White House's rationale. China, India, the European Union, Canada, Mexico, Norway, and now Russia have all filed complaints with the WTO.
For the full segment, [click here.](https://cheddar.com/videos/russia-challenges-trumps-tariffs-in-wto)
Catching you up on what you need to know on April 13, 2022, with President Biden referring to the Russian invasion of Ukraine as a genocide, a suspect has been identified in the Brooklyn subway shooting that injured 23 people, New York’s lieutenant governor has resigned due to bribery allegations, and more.
A shooter opened fire inside a busy subway car in New York on Tuesday creating chaos. Cheddar News speaks with Ralph Cilento, Professor of Police Science at John Jay College of Criminal Justice who gives tips on how to proceed in active shooter situations.
David Katz, a former federal agent with the Department of Justice, and currently founder, CEO, and owner of Global Security Group, joined Cheddar News to talk about the Tuesday mass shooting on a subway train in Brooklyn, N.Y. even as local authorities have so far stated it was not being investigated as a potential terrorist attack. "At this point between the commissioner of the NYPD and the governor of New York, they're almost saying, 'well, it's an active shooter incident.' Okay, but active shooter incidents can also be motivated by terrorism, so until we know motive, we can't make that conclusion at all," Katz said.
Catching you up with what you need to know on Apr 12, 2022, with Russia concentrating forces in eastern Ukraine, rising inflation, severe weather from Minnesota to the Gulf Coast, Philadelphia brings back its indoor mask mandate, PG&E pays $55 million for wildfire settlement, and more
President Joe Biden is visiting corn-rich Iowa to announce he’ll suspend a federal rule preventing the sale of higher ethanol blend gasoline in the summer.
The March consumer price index showed a 1.2 percent month-over-month increase and 8.5 percent increase from a year ago, which was the highest reading since 1981.
U.S. stocks saw a jump in the final hour of Thursday's session, and ultimately closed slightly higher for the day. Tim Pagliara, Chief Investment Officer of CapWealth, joined Cheddar News' Closing Bell to discuss. "The markets have had to digest a lot of action from the federal reserve this quarter and it's affecting everything from mortgage rates to how they value stocks," he said.
Rukmani Bhatia, Senior Federal Affairs Manager at Giffords, joined Cheddar News' Closing Bell to discuss the importance of regulating ghost guns as a way to curb U.S. gun violence, which kills more than 40,000 Americans every year.
Gary Schlossberg, Global Strategist at Wells Fargo Investment Institute, joined Cheddar News' Closing Bell to discuss the dire situation caused by Russia's war on Ukraine, as the region is key for exporting grains and corn, and as the UN Food & Agriculture Organization says food prices rose to the highest levels ever in March.
