EU, Canada And Mexico Threaten Tariffs To Retaliate Against U.S.

04 June, 2018, 07:30 | Author: Edward Snyder
  • EU, Canada And Mexico Threaten Tariffs To Retaliate Against U.S.

But it granted an exemption to the European Union and other US allies; that reprieve expires Friday.

But the Canadian countermeasures also target Democratic lawmakers.

"Is there something on that list which causes some real difficulties?"

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.

Mexico hit back fast on USA tariffs on steel and aluminum on Thursday, targeting products from congressional districts that President Donald Trump's Republican party is fighting to retain in November elections.

Trudeau stated that the tariffs would remain in place unless the U.S. removed its own set of tariffs.

He has also threatened tariffs on up to $150 billion in Chinese products to punish Beijing for pressuring US companies to turn over technology in exchange for access to the Chinese market. "They're critical for national security".

At home, some have expressed doubts about the position Trump has taken.

May said European countries should be permanently exempted.

Tariffs fell out of favor as global trade expanded after World War II.

"I think that we've all had just about enough of Donald Trump". Noting her discussions with USA officials, she said.

"The United States has been taken advantage of for many decades on trade", Trump said in a statement.




"The unilateral action by the Trump administration severely damages that relationship".

But now, global supply chains are seeing some of their worst fears realized as the US spins itself into a trade war with its closest allies and biggest trading partners. Trade Commissioner Cecilia Malmstrom added that the USA, through months of negotiations, threatened steep tariffs in order to obtain trade concessions from the EU.

"It makes it really hard to believe that deliberations are in good faith if you're taking capricious actions like this that really hurt the other parties", he said.

"He's rewriting the trade agenda for his own interests, and it's working".

The U.S. decision came despite last-minute talks in Paris this week to try to reach a deal.

Canada has responded by imposing dollar-for-dollar tariff "countermeasures" on up to $16.6 billion worth of USA imports.

The EU trade commissioner, Cecilia Malmstrom, said the EU "did everything to avoid this outcome". "Donald Trump is a bully and the only way to deal with a bully is to stand up and push back and we have to do that".

The Trump administration is planning to impose hefty tariffs on Canadian steel and aluminum imports as soon as Thursday - a move that threatens to spark a trade war and blow up already tense negotiations over the North American free-trade agreement.

She said: "We are not seeking to escalate any situation but we need to respond and we'll do so in a measured manner, but not responding would be the same as accepting these tariffs which we consider are illegal".

"Because, in the end, the effect will fall on voters and citizens that live in districts where the people have a voice and vote in the (U.S.) Congress".

Most economists - Trump's trade adviser Peter Navarro is a notable exception - say no.

Recommended:



Popular

Neymar scores brilliant goal on comeback from injury with Brazil
Defender Dejan Lovren had the best chance to open with a header that grazed Brazil goalkeeper Alisson's right post after a corner. Roberto Firmino added a second in stoppage time to satisfy the home fans on Merseyside.

Fulham Edge Out Terry’s Villa To Gain EPL Promotion
Villa looked set to turn the screw when Odoi was given a second yellow after a rash challenge on Grealish during a feisty period. But he added: "We must adapt ourselves". "If we bottled it and tried to play a different way we would have lost the game".

Televangelist says God told him he needs 4th private plane
Duplantis' video comes after another televangelist, Kenneth Copeland from Texas, purchased a Gulfstream V jet for $36 million. Dassault, who makes the three-engine Falcon 7X, describe it as "the benchmark for the 21st century business jet".

30-year-old New York man evicted by parents leaves their home
Rotondo refused the judge's request to work things out directly with his parents, who sat quietly nearby. They offered him $1,100 "so you can find a place to stay" and nudged him to get a job.

Facebook killing controversial ‘Trending’ feature, breaking news alerts and more coming
Another feature, called Today In shows people breaking news in their area from local publishers, officials and organisations. It fit nicely into CEO Mark Zuckerberg's pledge just a year earlier to make Facebook its users' "personal newspaper".

Trump pardons conservative commentator Dinesh D'Souza, considers pardoning Martha Stewart
President Donald Trump says he will pardon conservative commentator Dinesh D'Souza, who pleaded guilty to campaign finance fraud. Other government watchdogs raised Trump's first pardon, issued last August to former Arizona sheriff Joe Arpaio .

Boston Celtics: 3 reasons the season is over
The only thing he can do to exceed it is go ahead and win another championship against the Warriors or Rockets in a couple weeks. King Lebron scored 35 points with 15 rebounds and nine assists to lead his team to win the Eastern Conference series 4-3.

Zinedine Zidane's Real Madrid exit shows he'll always surprise us - Christian Karembeu
The club loves to change managers, no boss is ever truly safe there and talk is already rife about who will succeed Zidane. Zidane was a phenomenal player for Real Madrid , winning La Liga and Champions League trophies with the club.

Arkady Babchenko reveals he faked his death to thwart Moscow plot
A video on social media shows Babchenko's newsroom colleagues cheering and applauding as he suddenly appears on the TV screen. Babchenko served in the Russian army and fought during the first separatist war in Chechnya during the 1990s.

Second Day of Pre-Summit Nuclear Talks for U.S., North Korea
Trump will also host Japanese Prime Minister Shinzo Abe at the White House on June 7 to discuss the Singapore meeting with Kim. The North Korean leader described the Singapore summit as a landmark opportunity to end decades of confrontation.