Tariffs: How Europe is punishing the US

European steelmakers may have to impose quotas to appease President Trump

The Australian Stock Exchange is bracing for a soft start to June as the global economy grapples with a new trade war after the USA announced it will go through with tariffs on aluminium and steel imports from Canada, Mexico and the European Union. It represents an apparent breakdown in Trudeau's efforts to find common ground with the tough-talking president.

In Halifax to speak to the Federation of Canadian Municipalities, Trudeau pledged Friday to work with Canadian companies hit the tariffs to protect jobs and workers, but offered no details about what that might mean.

The CBI warned the move would "damage prosperity on both sides of the Atlantic". Trudeau responded that there was no way any Canadian prime minister would sign a NAFTA deal that included a five-year sunset clause, and the visit was scrapped.

But the tariffs stung particularly in Canada, where Trudeau evoked the history of the two countries fighting together, from the beaches of Normandy to the mountains of Afghanistan.

During a conference call early Thursday, Commerce Secretary Wilbur Ross played down the divisions.

The EU fired its first riposte against Washington's punishing steel and aluminium tariffs on Friday, joining Canada and Mexico in a brewing global trade war against U.S. protectionism.

In Canada, Prime Minister Justin Trudeau, who discussed the issue today with President Enrique Peña Nieto, announced tariffs of up to 25% on USA imports worth up to United States $12.8 billion, the value of Canadian steel exports to the USA a year ago.

30-year-old evicted by parents finally leaves home
The 30-year-old man who was evicted from his parents' home has finally left, hours before a court-ordered deadline. Rotondo refused the judge's request to work things out directly with his parents, who sat quietly nearby.

Washington's move also left European leaders fuming.

Canada announced a range of tariffs on US exports, after the Trump administration's imposition of tariffs on steel and aluminum imports from its northern neighbor on May 31, 2018.

Mexico and Canada renewed their commitment to the bare-knuckled NAFTA renegotiation after absorbing the blow of the Trump administration's decision to impose potentially debilitating new tariffs on steel and aluminum imports.

Talks with Europe had "made some progress", but not enough for additional exemptions, he said, adding: "We continue to be quite willing and indeed eager to have further discussions".

"What we have is about 15 counties in the aluminum space and about 20 in the steel space who basically are sending a flood of imports into this country", he said.

"They open the door for a broadening of tariffs to include more goods, something that can not be entirely ruled out as US politicians seek to boost their approval ratings in rust belt states ahead of mid-term elections", he said.

Ross shrugged off questions about the US facing possible retaliation, or whether the move would negatively affect the G7 meeting. "Allies they [will] stay", she pointed out.

Where to Get Free Doughnuts and Deals on National Doughnut Day
Du's Donuts will be giving away a free mini cruller and a Du's cocktail! Limit is one per customer, and no purchase is necessary. During World War I, The Salvation Army's "Donut Lassies" served the delicious treats to American soldiers on the front lines.

EU members have so far given broad support to a European Commission plan to set duties on 2.8 billion euros (£2.4 billion) of USA exports. "Mexico has stated repeatedly that this type of measure, based on national security, is neither appropriate nor justified".

"What they can do, we're able to do exactly the same", he said yesterday after learning of President Trump's decision when he was passed a note halfway through a speech.

It is not clear what the British response would be, although International Trade Secretary Liam Fox signaled that the United Kingdom was ready for "tit-for-tat" action, telling Sky News that British steel "is vital for their businesses and their defense industry", adding "it is patently absurd". Well, it's not, and one of biggest reasons why is Trump's trade policy, which became more alarming this week.

Congressional Republicans have already started raising the specter of job losses in their states.

"The key takeaway is Donald Trump does not view the Canada-U.S. relationship as special", Eric Miller of the Rideau Potomac Strategy Group, said in an interview.

'And I believe in the word reciprocal.

He signed-off the new tariffs surrounded by USA steel workers who are supportive of his decision. The decision was said to take effect from midnight on Thursday.

United States imposes steel, aluminum tariffs on EU, Canada, Mexico
Tariffs on steel and aluminum imports to the USA can help local producers of the metals by making foreign products more expensive. But the broader market sank because of trade war fears.

"This is Trump versus the world, rather than Trump versus Canada".

Related News:

Most liked

Visa card payment disruption across UK and Europe
Some non-Visa branded cards could also be affected, with a range of banks using the payment system. You may be having problems with your Visa card.

Braden Holtby's 'save of the season' leaves Alex Ovechkin speechless
The Capitals also fell behind 1-0 to the Pittsburgh Penguins - their playoff nemesis - in the second round. Part of that was obviously because of the curiosity of seeing Vegas - and not Winnipeg - in the final.

Facebook killing controversial ‘Trending’ feature, breaking news alerts and more coming
In 2016, Gizmodo reported that Facebook's contract workers often chose not to link to news with a conservative slant. The contractor claimed Facebook downplayed conservative issues and promoted liberal causes.

Giuliani Says Origin Of Mueller Probe Was 'Illegitimate'
The president was referring to the 13 investigators - of the 17 total members on Mueller's team - who have registered as Democrats.

King James rules the court in heroic Game One defeat
And then tonight in the finals on the biggest stage, when our team played well, played our (butt) off, man, it ain't right. James answered with an impressive drive, changing hands in midair before scoring to give the Cavs the lead.

President Trump holds a rally in Nashville
Blackburn has been trying to jump from the House to the Senate, where she hopes to occupy Senator Bob Corker's empty seat. Have you seen what they're doing to us? Not now, not ever. "We have been very pleased with the response to that".

Andrew Lincoln will leave 'The Walking Dead' during season 9
Cohan's contract negotiations with AMC stalled, leading her instead to sign on to the new ABC series Whiskey Cavalier . Grimes will, Collider claims, be phased out of the show and will only appear in a handful of episodes in season nine.

Will plus size smartphone feature iPhone X's best design feature?
Verizon Wireless Inc., for the third year in a row, will be the exclusive US carrier partner for the new Pixels, the people said. Phone Designer focused at first on the larger Pixel 3 XL phone, since that's the more desirable model each year.

Games With Gold for June include Assassin’s Creed Chronicles: Russia, Smite Gold
Assassin's Creed Chronicles: Russia is the biggest highlight of the current crop, which will be free June 1 through June 30. This line-up had already been leaked via a post on the German version of Xbox Wire.

U.S., North Korea to hold second day of nuclear talks
He is the vice chairman of the Workers' Party of Korea Central Committee responsible for South Korean affairs. He and Pompeo had discussions over dinner of steak, corn and cheese on Wednesday, Pompeo said in a tweet .

Argentina hoping it's Messi's year at World Cup
Messi moved to Barcelona at the age of 13 and would have been eligible to play for Spain. It's important to start off with a win to build confidence.

Hawaii: Kilauea volcano erupts again, spews ash up to 12,000 feet
Officials said there was no release of any unsafe hydrogen sulfide gas after lava crept over the plugged wells. Its operator, Israeli-controlled Ormat Technologies, said it had not been able to assess the damage.

Alert: Two New Pokemon Games Are Coming To The Switch This Year
You can use it like a Joy Con to control your Switch, or use it to search for Pokemon on the go without opening your phone. The process for downloading Pokemon Quest on the Nintendo Switch is the same as just about any other game on the system.

Moto G6 lands at Verizon for $240 outright
Lenovo-owned Motorola launched a bunch of new smartphones under its G series and E series recently in the US. While the Moto G6 Play will be available from Flipkart, Moto G6 can be purchased from Amazon India.

Sleeping in on weekends may extend your life
The authors from Stockholm's Karolinska Institute tracked the sleep of more than 43,000 people for 13 years from 1997. People who slept too much, regularly conking out for eight hours or longer a night, also had a worse mortality rate.