Trump's warning to Canada: Fair NAFTA deal, or no deal at all

Media playback is unsupported on your device                  Media captionTrudeau Canada not US national security threat

Media playback is unsupported on your device Media captionTrudeau Canada not US national security threat

"The United States must, at long last, be treated fairly on Trade", he wrote on Twitter, stating that some countries impose tariffs on us goods while the USA does not impose tariffs on the same country.

In the joint "chair's summary", they asked their counterpart, U.S. Treasury Secretary Steven Mnuchin, to "communicate their unanimous concern and disappointment" to his boss.

Canada, the largest supplier of steel to the United States, will impose tariffs covering C$16.6 billion ($12.8 billion) on USA imports, including whiskey, orange juice, steel, aluminium and other products.

Tariffs of 25 per cent on steel imports and 10 per cent on aluminium were due to be imposed on the EU, Canada and Mexico from 0400GMT on Friday. French Finance Minister Bruno Le Maire said that "Our US friends must know that if they were to take aggressive actions against Europe, Europe would not be without reaction".

Trump also issued an unusual late-night statement criticising Canada.

"What I expect will be a meeting that will have some challenges", Bill Morneau told reporters on Friday on the sidelines of the Group of Seven summit, a gathering of finance ministers in the Canadian ski resort town of Whistler.

The EU and Canada have filed complaints at the World Trade Organization (WTO) in response, and the EU has also vowed to hit back with retaliatory tariffs on an array of United States products.

According to the clause, the US proposed that the three countries reevaluate NAFTA after five years at a time.

"We continue to work closely with our European Union partners and will consider carefully the EU's proposals in response". 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.

RBC senior economist Nathan Janzen says the same forces could be at play with tariffs on steel and aluminum as a strong global economy and North American industrial sector could absorb prices that already increased when the first tariffs were imposed on several countries.

According to a report by Business Insider, the U.S, Canada, and Mexico were on the verge of clinching a deal on the North American Free Trade Agreement (NAFTA).

The EU has said the bloc will also apply tariffs in retaliation.

"It would be a great pity if we ended up in a tit-for-tat trade dispute with our closest allies".

In response, both countries announced reciprocal tariffs on a range of United States imports. A White House official said a range of issues had yet to be resolved.

"You keep talking about China!"

"We follow this with a lot of anxiety", Malmström said of the investigation.

The EU, Canada and Mexico vowed retaliatory tariffs on USA goods including motorcycles, T-shirts, jeans, grapes, apples, pizzas, mattresses and refrigerators.

That Canada could be considered a national security threat to the United States is inconceivable. "That's really quite unusual in the history of the G7".

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