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)
The crypto lobbying boom kicked off last year, sparked by a broadly-worded provision in the bipartisan infrastructure bill. Cheddar's Alex Vuocolo takes a deeper look.
U.S. stocks ended Wednesday's session mixed following the release of the minutes from the Federal Reserve’s most recent meeting, and amid ongoing tensions between Russia and Ukraine. Dan Eye, Chief Investment Officer at Fort Pitt Capital Group joined Cheddar News' Closing Bell to discuss.
Applications for U.S. unemployment benefits rose last week, but remain near historically low levels, reflecting relatively few layoffs across the economy
As we celebrate Black History Month, Cheddar is highlighting prominent Black Americans who are carving their own historic paths and trailblazing in their fields. Today we feature activist Tamika Mallory.
As more and more states end mask mandates and ease other COVID restrictions, discussions about the endemic phase of the pandemic have been growing. For weeks, scientists have warned about how contagious the omicron variant is, but now it seems the tone has shifted and governors are rolling back policies they've had in place for months. Dr. Eric Feigl-Ding, epidemiologist and senior fellow at the Federation of American Scientists, joined Cheddar's Opening Bell to discuss what the next phase of the pandemic might look like, how to act now that mask mandates are ending, and if we should be worried about another variant emerging.
Jeff Powell, Managing Partner and Chief Investment Officer at Polaris Wealth Advisory Group, joins Cheddar News' Closing Bell, where he says the market was looking for - and received - a little bit of relief when it came to the geopolitical conflict between Russia and Ukraine.
