U.S. singled out by G7 allies over steel and aluminum tariffs

Arturo Kim
June 3, 2018

Ottawa immediately hit back with proportional Can$16.6 billion ($12.8 billion US) in tariffs on United States steel and aluminum as well as consumer goods.

Former White House press secretary Anthony Scaramucci, also speaking to Radio 4, said with Mr Trump there was "always room for negotiation".

"American farmers overwhelmingly supported President Trump in 2016 but will not be silent in the face of trade wars that harm United States agriculture".

French President Emmanuel Macron said Friday that he told Trump in a phone call that the new US tariffs on European, Mexican and Canadian goods were illegal and a "mistake".

"Unfortunately, we are going to have a G6 plus-one with the United States alone against everyone and running the risk of economic destabilization", Le Maire told reporters. "It was not. We believe in the G7, it's an important group", Mnuchin said. Talks will continue in a slower, less urgent fashion, with the next potential window for more intensive negotiations likely not coming until after the July 1 Mexican presidential election.

European leaders will meet with President Trump at the G7 conference in Canada next week.

Mrs May said: "I am deeply disappointed at the unjustified decision by the U.S. to apply tariffs to European Union steel and aluminium imports".

France's President Emmanuel Macron, a globalist who has courted Mr. Trumps's friendship, blasted: "Unilateral responses and threats over trade war will solve nothing of the serious imbalances in world trade".

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But according to the White House, the date of 15 June is announced which would finalize the question regarding tariffs. The IMF maintained its 6.6 per cent growth forecast for China's GDP this year, down from 6.9 per cent last year.

The swift reaction from Canada and Mexico raises the possibility of a trade war between close allies. It would also signal no one is safe: Mexico and Canada are the top two buyers of U.S. exports. But what he said next perhaps illustrates just how poor relations between the two neighbors have become."In closing, I want to be very clear about one thing: Americans remain our partners, friends, and allies".

"We are concerned that these actions are actually not conducive to helping our economy - they actually are destructive".

The 25 percent tariff on steel and the 10 percent tariff on aluminum from Canada, the European Union and Mexico took effect Friday.

Regarding the dispute with the United States, the EU says in a document submitted to the WTO that USA tariff measures "adversely affect exports of these goods from the European Union to the United States".

"The problem is that by taking that kind of unilateral action the U.S.is undermining the principle of multilateralism in global trade, so it becomes more hard to deal with other concerns - like trade and market access practices in China", Dombrovskis said in an interview.

"The US, EU and United Kingdom are close allies and have always promoted values of open and fair trade across the world. Do Timber & Lumber in US?"

The Trump administration argues the tariffs are limited and created to save America's ailing metals industry, which is needed for defence and national security reasons.

Beatty said Canada should not walk away from the NAFTA table.

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