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


Sources say Trump will eventually have to consider the combination of the strong internal Republican and American business opposition to the tariffs, as well as the simple passage of time as the negative effects eventually trickle down to US consumers.

Lange criticized German Economy Minister Peter Altmaier, who he said wanted to strike a deal with Donald Trump at all costs.

U.S. Commerce Secretary Wilbur Ross, a member of the U.S. trade delegation to China, returns to a hotel in Beijing, China May 3, 2018.

"This doesn't mean the United States are not our closest partners and friends".

Canadian Prime Minister Justin Trudeau said, "These tariffs are totally unacceptable", and that Canada would pursue retaliatory penalties. It represents an apparent breakdown in Trudeau's efforts to find common ground with the tough-talking president.

"The now exercising its power", said Ms. Haugland, the DNB Markets economist.

Washington's move also left European leaders fuming. The list of products includes bourbon, made in Kentucky, the home state of Senator Mitch McConnell, the majority leader, and motorcycles, which are made by Harley-Davidson in Wisconsin, the home of Speaker Paul D. Ryan. "Allies they [will] stay", she pointed out.

'We're talking about NAFTA.

Despite slapping tariffs on Canada and Mexico, the United States remains engaged in trade negotiations - specifically with the North American Free Trade Association between the U.S., Canada and Mexico.

Nor can this move be laid at the door of the President's frequently invoked soft spot for industrial workers, because the tariffs will harm American factories that use Canadian steel.

"They're pretty savvy about this", said Ross Denton, an worldwide trade specialist and partner at law firm Baker McKenzie. "This is a very strong Canadian action in response to a very bad US decision".

'But if you take the European Union and you see the kind of tariff they change, and then we don't, that's called not fair trade. Both she and Trudeau sounded incredulous that Canada could ever be considered a national-security threat to such a close and important ally.

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Prime Minister of Canada Justin Trudeau slammed the tariffs as an "affront" to a longstanding relationship between the USA and Canada during a press conference.

The news arrives months after the initial trade adjustment in March that imposed a 25-percent tariff on steel imports and 10-percent tariff on aluminum imports for many US trade partners.

"There is a lot of concern here about the impact it would have in Tennessee", said Bradley Jackson, president of the Tennessee Chamber of Commerce and Industry. It's illegal. It's immoral.

Ross shrugged off questions about the US facing possible retaliation, or whether the move would negatively affect the G7 meeting.

"Without a strong economy you can't have strong national security", Ross said.

The long-threatened tactic is sure to cast a pall over the G7, with some observers saying a G6-plus-one scenario is already shaping up.

'These are two very different countries.

"If any of these parties does retaliate that does not mean there can not be continuing negotiations", Ross said.

"It all depends on how the various parties react to the circumstances".

May said the European Union and United Kingdom "should be permanently exempted from tariffs" and Britain would work with the bloc to protect and safeguard workers and industries. "The US, EU and United Kingdom are close allies and have always promoted values of open and fair trade across the world".

"I really believe that now the time for talk is done".

Any dispute mechanism that takes multiple years to settle cases was "no good", he said, labeling a 14-year case over subsidies for aircraft Airbus "a joke".