Trudeau Says Pence Scuttled NAFTA Deal With Untenable Ultimatum

01 June, 2018, 20:28 | Author: Mable Gonzales
  • Donald Trump USA EU trade war European Union Theresa May Emmanuel Macron

Trump's announcement that he's slapping steel and aluminum tariffs on Canada, Mexico, and the European Union on Friday has major big-picture implications for the us economy and global trade.

The European Commission tweeted that the tariffs represented "protectionism, pure and simple".

"This is a bad day for world trade", he said. "The EU believes these unilateral US tariffs are unjustified and at odds with World Trade Organisation rules", Jean-Claude Juncker, President, European Commission, said on Thursday. "But we see no sign of that in this action today by the USA administration". Pence called Trudeau back on Tuesday "to discuss ongoing negotiations".

U.S. Senator Orrin Hatch said, "Tariffs on steel and aluminum imports are a tax hike on Americans".

In Europe, there was disappointment, but less surprise.

What happens next? The EU, Canada and Mexico have said they will take the case to the WTO, triggering the organization's dispute settlement mechanism.

Mexico's list of proposed tariffs includes cranberries.

The European Union said it would impose taxes on a number of U.S. imports, including Harley-Davidson motorcycles, Levi's jeans and Kentucky bourbon.

British officials appeared the most alarmed.

Freeland says the dollar-for-dollar countermeasures, which apply to a long list of USA products from flat-rolled steel to playing cards and felt-tipped pens, will go into effect July 1. Talks with the European Union made some progress, but not enough to warrant a permanent exemption or another temporary exemption, he said. The tariffs will officially take effect for these markets at 12.01 a.m. on Friday.

With a week to go before the June 7-8 summit, there's still no final agreement on the agenda, British and Italian officials said.

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Canadian Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto spoke by phone following the USA announcement.

Automakers responded negatively to the Trump administration's first announcement of the duties in March and on Thursday the trade group that represents foreign-brand auto dealers echoed that sentiment. In response to that investigation Mr. Trump announced global tariffs.

The imposition of tariffs was opposed by German Chancellor Angela Merkel on Thursday.

An editorial Friday in China's Global Times - the English language publication of People's Daily, the Chinese Communist Party's official newspaper - exhorted the European Union to "stand up to the U.S.as it waves its big stick, by raising their own".

Speaking to the BBC News Channel, he said: "President Trump is a bully". "Europe does not want a trade conflict".

French Finance Minister Bruno Le Maire, left, welcomes US Secretary of Commerce Wilbur Ross prior to their meeting at French Economy Ministry in Paris, May 31, 2018.

The Wolfsburg-based company is calling for dialogue between the USA and the European Union within recognized World Trade Organization principles "in order to prevent any long-term economic damage".

"We continue to be quite willing and indeed eager to have further discussions", Mr Ross said.

Tata Steel, which employs 8,500 people across the United Kingdom, including 7,000 in Wales, has called for "swift and robust action" in response to the steel tariffs.

The CBI warned the move would "damage prosperity on both sides of the Atlantic". The EU should seize the opportunity to assert itself as a firm supporter of free trade, he said.

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