Trump hints at bilateral deals with Canada, Mexico
03 June, 2018, 18:25 | Author: Myra Gill
"We think that the G7 (meetings) will be useful if at the end of the G7, the United States is aware of the possible negative consequences of their decision on the unity of the G7 - not only the economic unity, but also the political one", Mr Le Maire said.
"These tariffs will harm industries and workers on both sides of the Canada-U.S. border and will disrupt supply chains that have made steel and aluminum from North America more competitive across the whole world".
"These unilateral tariffs, imposed under a false pretext of safeguarding USA national security, are inconsistent with the United States' global trade obligations and WTO rules", Freeland said in a statement issued on Friday.
"The EU and United Kingdom should be permanently exempted from tariffs and we will continue to work together to protect and safeguard our workers and industries", Mrs May said.
Canada has not yet released a statement on whether retaliatory measures would be taken. "The government is absolutely prepared to and will defend Canadian industries and Canadian jobs".
The dispute over U.S. President Donald Trump's tariffs is driving a wedge in the G7, laying the groundwork for a potential clash among its leaders next week in Quebec's Charlevoix region. "We are expecting everybody to play by the rules". But the NAFTA talks sputtered anyway, and the Trump administration imposed the tariffs at midnight Thursday.
The tariff exemptions for Canada, Mexico and the European Union expire on Friday.
U.S. Commerce Secretary Wilbur Ross said this was because negotiations over the past two months have failed to result in a deal.
The Canadian government said they were targeting 16.6 billion Canadian dollars, or roughly $12.8 billion United States dollars.
The expansion builds on new funding announced in late April of an initial outlay of more than $30 million over five years to hire 40 new officers to investigate trade-related complaints, including those linked to steel and aluminum. "So now this door for the moment is closed".
Canadian Finance Minister Bill Morneau said that Washington's decision to impose the tariffs - Canada provides half of all USA aluminum imports - had lessened the chances for a successful outcome of the NAFTA talks.
Mexico announced "equivalent" measures on a wide range of USA farm and industrial products. "If Americans got all their clothing, all their food, all their goods and services for free, they still couldn't compete with other countries because the economy has been so financialized that American labor has been priced out of world markets".
The U.S. Commerce Department recently launched an investigation into imported cars, trucks and auto parts.
"The talks are taking longer than we had hoped".
The world's two biggest economies have threatened to impose tariffs on up to 200 billion dollars' worth (£150 billion) of each other's products.
The US tariffs coincide with - and could complicate - the Trump administration's separate fight over Beijing's strong-arm tactics to overtake US technological supremacy. Opponents of the tariffs on European and North American metals say the administration is hurting allies when it needs them most to put pressure on Beijing. Many prominent Republicans have criticized the administration's aggressive use of that justification, saying its trade actions will hurt the USA economy. "But we see no sign of that in this action today by the U.S. administration", Trudeau said.
"Canada will closely collaborate with the European Union, which also filed a WTO challenge today, as well as with other like-minded countries, on opposing these tariffs", Freeland said.
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Ross's Commerce Department, and they have suggested that it is merely a bargaining ploy as part of trade negotiations. The Chinese statement said the two sides made "positive and concrete progress", but neither side released details.
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