From distillers to farmers, trade war would cause casualties

From distillers to farmers, trade war would cause casualties

From distillers to farmers, trade war would cause casualties

On Thursday, Trudeau announced that the country would impose its own tariffs on United States' goods in retaliation to Washington D.C.'s steel and aluminium tariffs.

The EU took the United States to the World Trade Organization to challenge the legality of the new tariffs and the Trump administration's national-security justification.

The six other members and the European Union all voiced opposition to the US tariffs, Aso said after the second day of the talks.

The Canadian government announced retaliatory tariffs on U.S. goods that look to go beyond the value of USA tariffs on imports of Canadian steel and aluminum.

Canada, the largest supplier of steel to the USA, on Thursday firing back with tariffs of its own on about $12 billion dollars worth of US goods - including whiskey, orange juice and aluminum....

U.S. Commerce Secretary Wilbur Ross said this was because negotiations over the past two months have failed to result in a deal.

Allies including Canada and the European Union are threatening retaliatory tariffs.

The door to trade negotiations with the United States is closed for the moment, EU Trade Commissioner Cecilia Malmstrom said on Friday.

"The effect of tariffs is going to be to increase unemployment very sharply because now aluminum and steel are going to be sold not to America, but to manufacturers in Asia and in Europe, and they can now produce their manufactures with lower-priced aluminum and lower-priced steel and undersell American manufacturers", he added.

Former White House Press Secretary Anthony Scaramucci, speaking on BBC Radio 4's Today programme, said he was sure there were "chips on both sides that can get traded" to resolve the stand off.

French Finance Minister Bruno Le Maire said Mnuchin was clearly isolated on the issue, though France, Germany, Japan, Britain, Italy and Canada were trying to talk the Trump administration "back to good reason".

The EU plans tariffs on USA exports running the gamut from canoes to "manicure or pedicure preparations".

The U.S. allies pledged retaliatory countermeasures and warned of a trade war that would ultimately hurt American consumers.

Other big U.S. demands may also be on the table.

British Prime Minister Theresa May said she was "deeply disappointed" and reiterated a call for Britain and the European Union to be "permanently exempted" from the "unjustified" metals tariffs.

China has threatened to hit back with tit-for-tat tariffs on tens of billions of dollars in USA goods - as have Canadian, EU and Mexican authorities.

Canadian Prime Minister Justin Trudeau called the move "totally unacceptable", while in London a spokesperson for Theresa May said the British government was "deeply disappointed".

Meanwhile, in Washington, US President, Donald Trump floated the possibility of scrapping the 24-year-old North American Free Trade Agreement in favor of separate bilateral deals with Canada and Mexico.

The U.S., Canada and Mexico have been holding talks to renegotiate the deal.

"Everyone expressed their complete incomprehension of the American decisions and everyone said it was up to the Americans to take the next step since they were the ones who imposed the tariffs".

"I think people understand that this (trade row) is not the Liberals' fault in any way", he said. But as Politico reported, there is "unprecedented division over the agenda and what joint statements might be issued out of the summit."Trump's tariffs on European products, as well as his reportedly planned levies on German vehicle imports, is going to make this an awkward event".

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