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USA justification of steel tariffs is 'grotesque' - German steel body

USA justification of steel tariffs is 'grotesque' - German steel body

U.S. Commerce Secretary Wilbur Ross dropped a bombshell when he said Washington would proceed with 25 per cent tariffs on Canadian steel and 10 per cent tariffs on Canadian aluminum, using a national-security clause in U.S. trade law to justify the move.

The United States was singled out by some of its closest allies Saturday over the imposition of tariffs that they warn will undermine open trade and weaken confidence in the global economy. EU members have given broad support to a European Commission plan to set duties on 2.8 billion euros ($3.4 billion) of USA exports if Washington ends tariff exemptions.

British Prime Minister Theresa May is deeply disappointed at the United States decision to apply tariffs to European Union steel imports, as she herself said in a statement issues by her office on Friday. The EU also started the process of filing a complaint with the World Trade Organization.

In the end, "this fight is not going to be resolved through diplomacy or at the G7 next week; it's going to be political developments in the United States", he added, noting that Canadian tariffs on USA consumer goods aimed to sway voters in key districts in the upcoming U.S. mid-term elections.

Trudeau fired back at the USA and Trump's "totally unacceptable" tariffs with $12.8 billion worth of their own tariffs on US imports into Canada on products ranging from yogurt to toilet paper.

The Trump administration's decision to impose punishing new tariffs on Canadian steel and aluminum could have dire consequences for Canada's defence sector and drive up the price of new military equipment, federal ministers said Thursday.

President Donald Trump's chief economic adviser is brushing off concerns over escalating trade disputes with a host of US allies as nothing but a "family quarrel".

A 10 per cent tariff that Canada imposed on many USA -made retail goods will be levied at the wholesale level, but over time for products with no other substitutes, such as orange juice, this cost will trickle down to consumers, said Karl Littler, vice-president of public affairs for the Retail Council of Canada.

Trump had been widely expected to impose tariffs on European steel and aluminum imports after failing to win concessions from the European Union.




Echoing Canadian President Justin Trudeau, Malmström said that the tariffs would hurt jobs in the U.S.as well.

Negotiations on a further exemption for Canada had focused on agreeing to USA demands that NAFTA force auto makers to use more North American-made steel, the sources said.

The trade tariffs have potential ramifications for world growth, not just for this year or next year, but the longer term.

European Union retaliatory tariffs were being prepared and would take effect from June 20 once backed by member states. He made the comment while outlining Canada's response to US tariffs on steel and aluminum imports. The Trump administration has given permanent metals tariff exemptions to several countries including Australia, Argentina and South Korea, but in each case set import quotas.

The two sides will discuss the matter and try to reach a deal.

Trump had offered the two US neighbors a permanent exemption from the steel and aluminum tariffs if they agreed to USA demands on NAFTA.

Trudeau didn't specify what that might mean in the wake of US measures aimed at Canada, Mexico and the European Union that slap import duties of 25 per cent on steel and 10 per cent on aluminum. Ryan said there are better ways to help American workers and consumers and that he plans to work with Trump on "those better options".

Mr Le Maire said US Treasury Secretary Steven Mnuchin was not surprised when confronted about the tariffs inside the talks.

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