Trudeau: Trump's Tariffs Are 'Insulting' - Cortney O'Brien
- Author: Eleanor Harrison Jun 05, 2018,
Jun 05, 2018, 0:08
Although the US government negotiated deals with Australia, Argentina, Brazil, and South Korea on steel and with Australia and Argentina on aluminum, the USA was unable to reach satisfactory arrangements with Canada, Mexico, or the European Union, according to the White House.
Mexico, the third-largest USA trade partner, said it would penalize us imports including pork bellies, apples, grapes, cheeses and flat steel.
On Parliament Hill, the seat of Canada's national government in Ottawa, officials have struggled to keep lines of communication open with Washington.
As he walked into his weekly cabinet meeting, Prime Minister Justin Trudeau didn't rule out financial aid. U.S. President Donald Trump justified it as necessary to ensure U.S. "And we regret that deeply", he predicted.
US businesses are bracing for the impact of a potential trade battle between the USA and some of its closest allies.
Countries of the G7, minus the USA, have criticized Washington over its recent decision to impose tariffs on steel and aluminum.
How could this affect the North Country?
First off, they're criticizing our president for doing something reckless and dumb, and that's my job, so back off, you Canadian usurpers.
On Friday, he said he'd like to see two separate trade deals done with Canada and Mexico. "The effects of retaliatory measures will similarly ripple across our economy, stunting growth and job creation while threatening to fracture our alliances with our strongest worldwide partners".
Again, it's completely unclear. The Chinese are. One lesson of American history is that US workers and innovators have always been able to compete with anyone when the rules are fair. -Canada trade is going to have to work hard to understand how companies like Bombardier will be affected.
"The PM said that the US, UK and European Union are close national security allies and we recognise the importance of the values of open and fair trade across the world", May's spokesman said.
That condition "makes no sense", the Canadian leader said Sunday.
In practice, this means many things.
Canada sent 84 percent of its steel exports, worth C$9 billion ($6.97 billion), south past year, according to Statistics Canada. And they are less interested in bestowing special sidekick status on Canada - through NAFTA or anything else.
"If you are talking about Canada, look what they do when it comes to our dairy products", he said.
"I'm impressed with Trudeau because at least he's staring them down. But I say in all seriousness that escalation is not what we require - we need a proportionate response done calmly, with time to give the United States some reflection to change its mind".
"If the United States launches trade sanction measures, including the imposition of tariffs, then all the economic and trade benefits negotiated by both sides are not going to take effect". Trump cited Section 232, which allows the president to impose tariffs for national security interests.
"It's been a lousy deal for the United States from day one". "That hikes up our prices and we have to reflect that in what we charge for our equipment or we're losing money".
Unraveling NAFTA would be risky and complicated, the kind of economic divorce that would make Brexit look easy.
U.S. and Chinese trade delegations met on Saturday and Sunday for the third round of discussions on current trade tensions between the two countries.
The U.S., Canada and Mexico held a series of talks through the winter aimed at reforming and modernizing NAFTA without shattering it entirely.
He said the extra fees are damaging to people in both countries.
"There was the broad lines of a decent win-win-win deal on the table that I thought required that final deal-making moment".
Kudlow played down the concerns in an interview on Fox News Sunday. The union says it understands why many people are frustrated with worldwide trade and called for the U.S.to develop a manufacturing strategy that creates good jobs.
US President Donald Trump talks to the media after meeting with North Korea's envoy Kim Yong Chol at the White House in Washington, US, June 1, 2018. "We call for an end to these trade disputes so that hard-working USA pig farmers can do what they do best: meet global demand for one of our nation's most competitive export products, one that favorably impacts USA trade imbalances with countries around the world".
Unable to reach alternative agreements, Washington opted to impose tariffs on steel and aluminum imports from the previously-exempt Canada, Mexico and the European Union, effective Friday, June 1.