Trump has officially put more tariffs on US allies than on China

Marsha Scott
June 3, 2018

The situation eased a little when Trump administration granted a temporary relief from tariffs to some of its key allies like European Union, Canada, Mexico, Argentina, Australia, Brazil and South Korea.

Trudeau said he spoke with US President Donald Trump last week and offered to fly to Washington and sit down with him to hammer out the "final details of NAFTA because there were broad lines of a decent win-win-win deal on the table".

"Realistically, I do not think we can hope" to avoid either USA tariffs or quotas on steel and aluminum, said Cecilia Malmstrom, the European Union's trade commissioner.

Ross told reporters that talks with Canada and Mexico over revising the North American Free Trade Agreement were "taking longer than we had hoped".

Trudeau was in Halifax to speak to the annual conference of the Federation of Canadian Municipalities. "The U.S. has been ripped off by other countries for years on Trade, time to get smart!" the president tweeted. Throughout these talks, the US has sought to use the threat of trade restrictions as leverage to obtain concessions from the EU.

Some officials at the meeting said the tariffs made it harder for the group to work together to confront China over its trade practices. That is not Free or Fair Trade, it is Stupid Trade.

Gareth Stace, director of trade body UK Steel, said he was "very, very worried" about the potential impact of a "double whammy" on British producers from the Trump administration's decision.

The tariffs have landed just as Finance Minister Bill Morneau presides over a meeting of finance ministers from the G7 industrial nations at which the event's pre-set agenda has been overtaken by fears of a trade war.

Late Thursday, President Donald Trump said in a statement it was made clear to Trudeau that the USA "will agree to a fair deal, or there will be no deal at all".

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"President Trump has been very clear in wanting to address trade issues".

The EU trade commissioner, Cecilia Malmstrom, has said Mr Trump's tariffs are "further weakening transatlantic relations".

European Union trade commissioner Cecilia Malmstrom slammed Trump's tariffs as "pure protectionism", calling it "illegal" under WTO trading rules.

After the measures were announced on Thursday, the UK's worldwide trade secretary Liam Fox also dismissed Mr Trump's claim that the tariffs were for security reasons.

A list of countermeasures would include tariffs on USA metals and food products such as yogurt, pizza and cucumbers, as well as household products like mattresses and refrigerators.

Outraged leaders from the world's major economies launched legal challenges Friday after announcing countermeasures to retaliate against harsh steel and aluminum tariffs which Trump allowed to take effect.

The European Union is also planning a tariff counter strike and filed a request on Friday for consultations with the World Trade Organisation. The said trade-move would raise prices of a range of everyday products.

He said G7 officials expressed concern to U.S. Treasury Secretary Steven Mnuchin during the session on trade that the U.S. tariffs posed a risk to global economic growth.

Other reports by MaliBehiribAe

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