Published: Sun, June 03, 2018
Global Media | By Garry Long

Trump takes aim at Canada as US protest his tariffs

Trump takes aim at Canada as US protest his tariffs

The new 25 percent tariff on steel imports and 10 percent tariff on aluminum imports from the EU, Canada and Mexico come into force at midnight (04:00 GMT, Friday), according to US Commerce Secretary Ross.

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.

Well, they have a $2 billion surplus on steel with us.

European Union retaliatory tariffs were being prepared and would take effect from June 20 once backed by member states.

"But the situation is worrying, it could escalate and also the recovery, the economic recovery that we have seen lately not only in the European Union but also globally, risks of course to be diminished by this".

Trade war fears between the United States and its trading partners have been rife since March. "By people representing us who didn't have a clue", he said at the time.

The European Commission said that it could take asymmetric measures, targeting classic American products such as Levi's jeans, Harley-Davidson motorbikes and bourbon whiskey.

Germany's carmakers are especially braced for the latest threat from Trump, who earlier this month launched proceedings that could eventually slap 25 per cent tariffs on auto imports.

On Thursday, Trudeau hit back at punishing U.S. tariffs on steel and aluminium with Can$16.6 billion (US$12.8 billion) in duties on USA goods, and accused American President Donald Trump of lacking "common sense".

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He continued: "The reason I don't know is because he's talked about the fact of this, he's anxious about trade surpluses, trade deficits around the world". "The American administration has made a decision today that we deplore, and obviously is going to lead to retaliatory measures, as it must", Prime Minister Justin Trudeau said.

Trudeau said he refused to go because of the "totally unacceptable" precondition.

Plus, tariffs on metal imports from the EU, Canada and Mexico will be put into effect from Jun 1, as exemption offered earlier in the year lapsed.

Against this backdrop, we highlight some industries that could be impacted the most by the tariffs.

"The US, EU and United Kingdom are close allies and have always promoted values of open and fair trade across the world".

President Trump said the United States had been unfairly treated in trade with its neighboring and oversees partners.

"We're concerned that these actions are actually not conducive to helping our economy, they actually are destructive, and that is consistently held across the six countries that expressed their point of view to Secretary Mnuchin", Canadian Finance Minister Bill Morneau said at a news conference after the meeting ended in the Canadian mountain resort town of Whistler, British Columbia. Canada unveiled a package of counter-tariffs on U.S. imports valued at Can$16.6 billion (US$12.8 billion).

She added: "This is further weakening the transatlantic relations and it also increases the risk of severe turbulences in the markets globally". "The US economy will suffer as much as any other economy".

Industry experts have warned that EU retaliation could encourage the Trump administration to strike back with more trade barriers on items like European cars.

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