Trump plans to go ahead with steel, aluminum tariffs on EU

Canadian Prime Minister Justin Trudeau left and Canadian Foreign Affairs Minister Chrystia Freeland hold a news conference in Ottawa Ontario on Thursday

Canadian Prime Minister Justin Trudeau left and Canadian Foreign Affairs Minister Chrystia Freeland hold a news conference in Ottawa Ontario on Thursday

Tom Udall told business leaders gathered in Albuquerque on Thursday that resolving negotiations over the future of the North American Free Trade Agreement would boost economic development along New Mexico's border with Mexico. If we charge a country ZERO to sell their goods, and they charge us 25, 50 or even 100 percent to sell ours, it is UNFAIR and can no longer be tolerated.

The tit-for-tat trade spat comes after nine months of negotiations between Canada, Mexico and the United States to revamp NAFTA bogged down.

"NAFTA needs updating", he said, "but tearing it up is not the answer".

Canada filed a complaint at the World Trade Organization in response to "illegal" USA tariffs on imports of Canadian steel and aluminum, Foreign Minister Chrystia Freeland said.

Foreign Affairs Minister Chrystia Freeland says Canada plans to levy tariff "countermeasures" of its own on up to $16.6 billion worth of imports of steel, aluminum and other products from the U.S.

Fears of a global trade war are overshadowing the G7 talks in the Canadian resort town of Whistler, as Washington's allies vow to push back against the USA decision on tariffs. Canada is the biggest supplier of both metals to the United States, with the value of shipments close to $20-billion annually.

Udall's speech came at the Sheraton Albuquerque Airport Hotel.

Besides the USA steel and aluminum tariffs, the Trump administration is also investigating possible limits on foreign cars in the name of national security.

It also fears steel exported to the United States from other countries could be redirected to Europe on account of the tariffs. "So I think the difference between the USA approach and many others' is we feel a greater sense of urgency for reform than do numerous other countries".

A final decision on U.S. President Donald Trump's threatened steel and aluminum tariffs is expected by Friday.

U.S. Commerce Secretary Wilbur Ross and U.S. Trade Representative Robert Lighthizer are holding meetings Wednesday and Thursday in Paris with EU , French and German officials.

The European Union on Friday formally set in motion its trade retaliation against the U.S. tariffs, filing a request for consultations at the WTO, which oversees disputes on global trade.

Trump's antagonistic trade policies - and specifically the steel and aluminum tariffs - drew worldwide denunciation.

U.S. Treasury Secretary Steven Mnuchin failed to soothe the frustrations of his Group of Seven counterparts over the 25 percent steel and 10 percent aluminum tariffs that Washington imposed on Mexico, Canada and the European Union this week.

Prime Minister Justin Trudeau has called the USA levies "totally unacceptable" and an "affront" to Canada, warning that a trade war would harm the economies of both countries.

European Union trade commissioner Cecilia Malmstrom said the tariffs are "further weakening the Trans-Atlantic relations". "We will respond. And we will respond appropriately".

Mr Lange said he would like to see tariffs imposed on "symbolic" United States products such as Harley-Davidson motorcycles.

"We see that response as being a way to get us back to the table so the impacts actually don't happen", Mr Morneau said.

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