Thursday, 16 August 2018
Latest news
Main » Trade Dispute: Donald Trump aide says Canada's PM Justin Trudeau overreacting

Trade Dispute: Donald Trump aide says Canada's PM Justin Trudeau overreacting

04 June 2018
Trade Dispute: Donald Trump aide says Canada's PM Justin Trudeau overreacting

U.S. President Donald Trump has hit Canada, Mexico and the European Union with tariffs on steel and aluminum, a move that will damage Canadian companies and the relationship between the two allies as they continue negotiations over the future of NAFTA.

"We are hurt and we're insulted", she added.

If the WTO decides to rule in this case, it will be largely unprecedented as "the United States really hasn't done this at any great scale before, and trading partners really haven't done the same thing because it's broadly seen as a major excuse", Bown says.

The American government announced on Thursday morning that it will impose tariffs on Canadian steel and aluminum imports, which were effective as of midnight with a 25% tariff on steel and a 10% tariff on aluminum.

Ottawa [Canada]: Canadian Prime Minister Justin Trudeau on Friday dubbed trade tariffs imposed by the United States as insulting and unacceptable.

USA allies will outline their retaliatory trade measures in the coming days.

Mnuchin rejected comments from some G7 officials that the United States was circumventing worldwide trade rules with the tariffs or ceding leadership of a global economic and trading system it largely built after World War Two.

The six other G7 member nations (Canada, France, Germany, Italy, Japan and the UK) - some of America's closest allies - are all subject to the USA metals tariffs, which were imposed on the grounds of national security. "The point is, we have to protect ourselves".

Such a stark disagreement is unusual in the G7 group, which is comprised of the world's seven largest economies: the United States, Canada, France, Germany, Italy, Japan, and Britain.

He made it clear his anger was directed at the Trump administration and not the United States.

Trump has repeatedly cited the national trade deficit as a sign that the United States is being treated unfairly by its global trading partners. He added: "This is a trade dispute, if you will. But we are not in a trade war", majority leader Kevin McCarthy said on CNN's State of the Union. I want fair trade. The said trade-move would raise prices of a range of everyday products.

"To say that this is an attack on Canada is not right", Kudlow told "Fox News Sunday".

When asked if these tariffs could jeopardize the economy, Kudlow said, "Oh, it might". He said the Washington is "still welcome" to "good faith negotiations".

"On each of these issues, the Chamber has privately and publicly expressed our concerns to the administration and to Congress about the economic damage that an escalating series of back and forth tariffs would have on our own country", Donohue wrote.

The July 1 deadline for Canadian tariffs to take effect provides a window for Canada and the U.S.to still broker a deal, perhaps in the framework of a NAFTA agreement.