Theresa May Condemns Trump’s Steel, Aluminium Tariff

Nations around the world yesterday fought back against US President Donald Trump's decision to slap tariffs on steel and aluminum imports, announcing retaliatory countermeasures and saying that the plan would hurt US consumers.

"That is why we are challenging the U.S. and China at the WTO and it demonstrates that we are not choosing any side", she said.

Mexico complained that the tariffs will "distort global trade" and said it will penalize USA imports including pork, apples, grapes, cheeses and flat steel.

Canada responded with duties of 25% on U.S. steel and aluminium, and 10% on consumer goods such as ketchup, orange juice, sailboats and washing machines, which will take effect July 1.

The EU said these circumstances did not comply with the basic rights that companies should have under the WTO rules and disciplines, particularly under the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement).

President Donald Trump's tariffs on Washington's closest allies drew condemnation from Republican lawmakers and the country's main business lobbying group and sent a chill through financial markets.

"There is no longer a very precise date when they may be concluded" so they were added to the tariff list, he said.

Ross is "going there to tread water", the person said, declining to be identified due to the sensitivity of the matter.

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.

China's exports have mushroomed since joining the World Trade Organisation in 2001, making it the world's second-largest economy.

Tariffs of 25 percent on steel imports and 10 percent on aluminium were imposed on the EU, Canada and Mexico from Friday.

May said the U.S. should immediately rethink its decision, in what seems to be her first comment since the imposition of the tariff 24 hours ago. The countries had been granted a temporary exemption from the tariffs introduced by the White House on March 1.

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

"The US measures are a protectionist intervention in worldwide trade and run counter to the principles of the World Trade Organization", the body said in a statement, сalling for a swift WTO decision on challenges to the tariffs.

When asked whether a trade war has already started, Dombrovskis said: "That is certainly not the vocabulary we are using, we keep our communications channels open. we need to push for a solution on this particular issue".

The British leader, who has sought to underscore the trans-Atlantic special relationship, said Friday she was "deeply disappointed" by the Trump administration's decision. "The US economy will suffer as much as any other economy".

Canadian Prime Minister Justin Trudeau has taken a more combative stand against the U.S., even going so far as to accuse President Donald Trump of lacking "common sense".

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

  • Rogelio Becker