US to slap steel and aluminium tariffs on Canada, Mexico

US to slap steel and aluminium tariffs on Canada, Mexico

In fact, U.S. Commerce Department numbers show, the United States recorded a trade surplus with Canada for each of the past three years.

"Even if the United States were to levy a 25 per cent tariff on vehicle imports from the EU, the direct damage to be shared largely between U.S. consumers and EU exporters would be equivalent to 0.08 per cent of EU GDP", he calculated.

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

Macron also proposed to start negotiations between the US, the EU, China and Japan to reshape the World Trade Organization to better regulate trade.

Morneau has called the steel and aluminum tariffs "absurd", because Canada is by no means a security risk to the U.S. He's warned the measures will destroy jobs on both sides of the border. It's counterproductive, that any government that embarks on a protectionist path inflicts the most damage on itself.

Macron's office said in a statement Friday that the two presidents spoke by phone after Trump's administration announced the decision Thursday to impose 25 percent tariffs on steel and 10 percent tariffs on aluminum.

While not confirming directly that the USA would decide to impose tariffs, he said: "It's up to the European Union to decide if it wants to take retaliatory measures".

On Friday, the United States' closest allies attacked the Trump administration for imposing tariffs on steel and aluminum imports, with Japan calling the US actions' "deeply deplorable".

But the pressing ahead nonetheless, a long-threatened tactic sure to cast a pall over the G7 summit Prime Minister Justin Trudeau is hosting next week in Quebec. Canada is the biggest supplier of both metals to the United States, with the value of shipments close to $20-billion annually.

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Canadians, industry and even opposition parties applauded the prime minister's unusually pointed rebuke of Trump and retaliatory tariffs. But he exempted Canada, Mexico and the European Union to buy time for negotiations - a reprieve that expired at midnight Thursday. "People have no idea how badly our country has been treated by other countries". "The EU is a peace project, including on trade", she said, pointing to the numerous trade agreements the EU is signing.

The EU earlier threatened to counter punch by targeting United States products, including Kentucky bourbon, blue jeans and motorcycles.

European Union retaliatory tariffs were being prepared and would take effect from June 20 once backed by member states. "It's not that we can't talk just because there's tariffs", he said.

Massive US tariffs on European Union steel imports came into force on Friday as Britain made it clear a trans-Atlantic trade war would be bad for both sides.

Mr Gardiner, speaking to Radio 4's Today programme, said: "The president has said that he believes he could win a trade war, we think that a trade war is in nobody's interests".

Trudeau earlier deplored a decision by Trump to impose tariffs on steel and aluminum imports.

Trump seemed to like the idea, Trudeau said.

Mr Trump has said the tariffs are needed to protect U.S. steel and aluminium industries vital to the nation's security.

Canada and the US are closely integrated trading partners and Thursday's moves could cripple industries, including the auto sector, where supply chains are interconnected and goods pass back and forth across the border several times before they are finished. "This is very much a matter of concern and was also part of the discussions".

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