Results 1–20 of 3993 for (in the 'Commons debates' OR in the 'Westminster Hall debates' OR in the 'Lords debates' OR in the 'Northern Ireland Assembly debates') speaker:Liam Fox

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: I am grateful to the hon. Gentleman. He is right that there is an issue of global overcapacity and that, as I have said, that must be tackled on a multilateral basis because it cannot be effectively tackled on a bilateral basis with the use of tariffs. That will not be a successful way of dealing with it. What it has resulted in is a great deal of energy being spent on blue on blue...

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: My hon. Friend, as usual, raises interesting points. He is completely correct that a tit-for-tat dispute will help nobody. The United States has already seen an increase in the domestic price for steel. That means that input prices in the US are likely to rise, its output prices will ultimately rise and it will become less competitive, which is not an answer to its current trade predicament....

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: The answer to the hon. Gentleman’s last question is no. The Minister for Trade Policy, my right hon. Friend the Member for Chelsea and Fulham (Greg Hands), has been in touch with the Scottish Government in the past few days to discuss the wider impacts on the industry. I have made it very clear that we regard this as a UK-wide issue. The UK Government will take whatever measures are...

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: My hon. Friend, who knows a great deal about this subject from his time as a Defence Minister, is absolutely right. We will be looking at the displacement issue very closely to see whether safeguards are required for aluminium as well as steel. He is right about Bridgnorth in his constituency, which exported £21 million of products to the US in 2017. The irony is that the only potential...

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: I am very grateful to the hon. Gentleman for his comments. He is right that we have to have the TRA up and running. As he knows, we have now advertised for the most senior appointments and agreed its setting in Reading. On the wider economic issue, the hon. Gentleman is absolutely correct. It is impossible, in an open and free trading system, that all economies will be in balance with one...

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: As my hon. Friend knows from being a trade envoy to Nigeria, it will not just be those in developed countries who feel the effects if this has a slowdown impact on the global economy. If we have tariffs, countermeasures and then measures against the countermeasures, it is very easy to see how it could ramp up into a global trading disaster. We need to try, in the time ahead, to get the United...

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: The right hon. Lady is absolutely correct that if we are to get a change in US Government policy, the most effective pressure will come from US business and the US Congress. I was very heartened to hear Chairman Brady of the Committee on Ways and Means making exactly these points yesterday—if American input prices rise, output prices will rise, and that is likely to hinder, not help,...

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: The EU’s measures are designed to be proportionate and legal so that we can make the case that we have responded to what we believe to be legally dubious moves in a properly legal way, through the rules-based system. That is the appropriate way to go. I do not believe that the EU tariffs are escalatory, and it would be hugely unfortunate if further moves in that direction were made by...

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: The potential countermeasures that the European Commission is setting out fall into two groups in their timing, and it is entirely possible that all or a smaller number of those measures could be put in place. I hope that the flexibility that is being shown in both the timing and the scope of their application lets the United States understand that the European Union is keen to have an...

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: I know that opinions on Brexit are very strong, but with all due respect, we cannot see every global economic issue through the prism of Brexit. This action has been taken against what we believe to be WTO rules. It affects the European Union as much as it affects Canada and Mexico, which have economies of a very different size, and it is because of unilateral action taken by the United...

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: There are two interesting points to make on that tirade of nonsense. First, we do not have the legal authority in the United Kingdom on our own, because the European Union is responsible for this issue on our behalf. When we leave the European Union we will have greater freedom, but I say to the hon. Gentleman in all seriousness that escalation is not what we require. We need a proportionate...

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: I do not think that those issues are remotely related. It has been clear from the presidential election campaign onwards that the President has concerns about the US steel industry and global overcapacity. We do not disagree with the analysis of the problem; we disagree with the remedy being applied.

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: It was not me, nor any other Member of the House, who decided to pull Britain out of the European Union; it was the people of Britain, in a democratic referendum. I will send the hon. Gentleman a dictionary, and he can tell me which of the words “binary”, “referendum” and “democracy” he does not understand.

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: My hon. Friend raises an important point. In fact, the WTO has always shied away from this territory because of the implications it could have, even potentially for the integrity of the WTO itself. It is better that we find a better way to deal with the oversupply in the steel market and that no one tries to use the national security route as a remedy, because as I said, if the United States...

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: The United States has long been at the forefront of leading global free trade, including setting up the WTO itself. That is why we find it so disappointing that the current Administration should take this particular route and try this particular remedy for the problem. The right hon. Lady will notice that being a member of the European Union has no more protected us from these tariffs than...

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: My hon. Friend makes a very interesting point. Not only do we send some very high-end steel to the United States, but some of it is steel that the United States itself does not manufacture. For end users in the United States, that will actually increase the price of a product they do not manufacture domestically, which cannot have anything other than adverse economic consequences. That is why...

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: Even for a member of his party, for the right hon. Gentleman to refer to the United States as a “rogue state” gives us pause for thought. With this particular measure, we think the US has behaved in a way that has a very poor basis in law and does not have any justification in national security. However, treating the United States in the way he suggests would be quite wrong, and...

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: My right hon. Friend the Business Secretary felt it would be of the greatest benefit to those in the industry to have them in and to have experts, including legal experts, talk them through the product exemption system. The product exemption system does not require a presidential agreement; it occurs at the level of the Department of Commerce. Knowing how the system works and being able to...

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: I would be happy to do so. I was in the United States and visited a number of our congressional colleagues just two weeks ago. It is worth pointing out that there are 142,000 steel workers in the United States, but there are 6.5 million workers who depend on steel as part of their business, so either reductions in supply or increases in cost are likely to have a domestic effect. Again, I hope...

Us Steel and Aluminium Tariffs (4 Jun 2018)

Liam Fox: No, I will not do that. I believe that a customs union gives us greater trading relationships with some at the expense of greater trading relationships with others. As the International Monetary Fund has pointed out, 95% of global growth in the next 10 to 15 years will be outside continental Europe, so to tie ourselves into a customs model with the slowest growing part of the global economy...


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