Trump hits Canada, Mexico, EU with steel and aluminum tariffs

Italy news

Italy news

In anticipation, the European Union already drew up a long list of counter-measures against the U.S., which include equivalent duties on a whole range of products including cranberries, motorcycles and bourbon whiskey.

"This is $16.6 billion of retaliation", said Canada's Foreign Affairs Minister Chrystia Freeland on Thursday.

Responding to Washington's move on tariffs, the president of the European Commission, Jean-Claude Juncker, called them tariffs totally unacceptable and pledged to introduce counterbalancing measures. "That Canada could be considered a national security threat to the United States is inconceivable".

The dragging on of the NAFTA talks was a key reason behind the USA move to target Canada and Mexico, but given the importance of that trade agreement to the continent's economy, neither US neighbour was deterred.

A 25 percent tariff on steel imports and 10 percent tariff on aluminium imports will be imposed on the EU, Canada and Mexico starting at midnight (0400 GMT on Friday), Ross told reporters. We think a trade war is in nobody's interests.

This is because the trade relationship that exists is largely balanced, with nearly equal amounts of steel travelling between the USA and Canada.

Although many in the United States business community have reacted with alarm, Trump's actions have won him favour in the domestic steel and aluminium industry.

Commerce Secretary Wilbur Ross said the president acted on national security grounds, seeing a rising tide of imports as a threat to the domestic metals industry.

A temporary moratorium on the tariff was imposed in March for both Canada and Mexico and loosely tied to ongoing talks with the North American Free Trade Agreement but those talks have not yet resulted in an agreement.

But now the exemptions on Mexico, Canada and the European Union are being lifted, and tariffs will be collected starting Friday.

European officials argue that the tariffs, along with retaliatory actions, will hurt growth on both sides of the Atlantic. To put further pressure on an already furious EU, Donald Trump has further threatened a ban on all German vehicle imports which could have a devastating effect on Europe's largest national economy, as well as a deeply negative effect on United States consumer choice. Ryan said there are better ways to help American workers and consumers and that he plans to work with Trump on "those better options".

The tariffs, set to take effect at midnight, happened to coincide with the Cansec trade show, in which numerous world's largest defence companies descend on Ottawa each year to pitch their wares to government.

"This is (going to have) significant consequences", Qualtrough said on the sidelines of the trade show after a breakfast address in which she provided an update on several major military procurement projects.

EU Trade Commissioner Cecilia Malmstrom has announced a 1pm noon Friday news conference to deliver its response of the world's largest trading bloc.

Canada is the top supplier of steel to the United States, accounting for 17 percent of all imports.

Raj Shah, a White House spokesman, told Fox News: "The president's actions are about protecting American steel, American aluminum".

Despite the harsh rhetoric, a successful Nafta negotiation is important for Mr. Trudeau, since it represents an important gauge of his ability to manage the Canadian economy, heavily reliant on selling goods to the U.S. He faces an election test in the fall of 2019, and he has now slipped in recent polls after an extended honeymoon.

Former British trade minister Francis Maude has condemned the United States' decision to impose tariffs on steel and aluminum imports as "stupid" and counterproductive.

"We'll have to be able to produce more steel for the Canadian market", Howe said.

Will the trade war escalate?

Recommended News

  • Kremlin critic: Russia abusing Interpol system

    Kremlin critic: Russia abusing Interpol system

    Magnitsky, a tax lawyer for his company, Hermitage Capital, died in a Moscow prison , where he had been held for more than a year. The Spanish National Police and the Spanish Home Office initially declined to confirm the news or provide any further details.
    U.S.  to slap tariffs on European Union  steel and aluminium

    U.S. to slap tariffs on European Union steel and aluminium

    He said he planned to travel to China on Friday for trade talks between the world's two biggest economies. He also said the administration is eager to stay at the negotiating table with all three countries.
    Alberto triggers mudslides in North Carolina

    Alberto triggers mudslides in North Carolina

    In the last 24 hours, 4 to 7 inches of rain slammed parts of a region that had been hit by frequent rain for a couple of weeks. At least five mudslides were reported in Henderson County blocking roads near the towns of Bat Cave and Hendersonville.
  • 'Ingraham Angle' Highlights Passages From Starbucks' Racial Bias Handbook

    'Ingraham Angle' Highlights Passages From Starbucks' Racial Bias Handbook

    Roughly 8,000 Starbucks stores are closing at about 2 p.m. on Tuesday and reopening with normal hours on Wednesday. Starbucks corporate officials said it will share the racial-bias curriculum with the licensed stores.
    Arkansas Selected To Host Second Straight NCAA Regional

    Arkansas Selected To Host Second Straight NCAA Regional

    Not only are we getting back a great player but his leadership qualities will be what we need for this team and where we are now". The Razorbacks were one of 16 teams announced as hosts, with the 1-16 seeds and full bracket set to be revealed at 11 a.m.
    Lebron takes Cavaliers to 4th NBA Finals in a row

    Lebron takes Cavaliers to 4th NBA Finals in a row

    Nobody is going to feel bad for a team that still features Stephen Curry , Kevin Durant , Klay Thompson and Draymond Green . When the Celtics fell to 0-2, a season that began with so much promise easily could've snowballed into a disaster.
  • MIUI 10 unveiled: AI features and dedicated portrait mode revealed

    MIUI 10 unveiled: AI features and dedicated portrait mode revealed

    There's also an NFC model of the Mi Band 3, which has a higher price tag of 199 yuan, which is still only £24/$31. Despite not being an expensive tracker, the Xiaomi Mi Band 3 looks to have lots of fitness features packed in.
    Cavs' LeBron James closes in on personal playoff scoring record

    Cavs' LeBron James closes in on personal playoff scoring record

    By now, it's common knowledge LeBron James has made it to eight consecutive NBA Finals - with the Cleveland Cavaliers and Miami Heat.
    Blake Painter: ‘Deadliest Catch’ Star Reportedly Found Dead At Home

    Blake Painter: ‘Deadliest Catch’ Star Reportedly Found Dead At Home

    His body was found Friday after a friend called the Clatsop County Sheriff's Office after not hearing from him for days. Painter, who was captain on the second and third season of the show, was found dead at his home in OR on Friday.
  • Serena favourite if she survives three rounds - Courier

    Serena favourite if she survives three rounds - Courier

    Though she is back on the court, Williams said her emphasis is looking after her daughter: "No matter what, that's my priority". But her attire was the main focus at Roland Garros as Williams took to the court in an all-black Nike "catsuit".
    Horgan promises to continue pipeline fight

    Horgan promises to continue pipeline fight

    That sentiment was similar to what Moe said Tuesday in response to the federal government buying the pipeline. Saskatchewan Premier Scott Moe said Horgan's administration has shown willingness only to stand in the way.
    Trump says Comey among 'rotten apples' in Federal Bureau of Investigation

    Trump says Comey among 'rotten apples' in Federal Bureau of Investigation

    Mark Warner (D-Va.), the top Democrat on the Senate Intelligence Committee, later criticized their presence at the latter meeting. The first meeting was held at the Justice Department while the "Gang of Eight" briefing was on Capitol Hill.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.