Published: Thu, June 07, 2018
Global Media | By Jackie Banks

US singled out by G7 allies over steel and aluminium tariffs

US singled out by G7 allies over steel and aluminium tariffs

Donohue's statement came the same day Trump said the USA would implement a 25 percent tariff on steel and a 10 percent tariff on aluminum on American allies Canada, Mexico and the European Union.

He said "The numbers are clear: The United States has a $2 billion U.S. dollars surplus in steel trade with Canada - and Canada buys more American steel than any other country in the world, half of USA steel exports".

That meeting, which will be hosted by Canadian Prime Minister Justin Trudeau, will be Trump's first visit to Canada as president.

Trudeau said Sunday in a US television interview the USA was seeking two main things in Nafta negotiations, which are essentially on the back-burner after the US hit Canada and Mexico with steel and aluminum tariffs last week. On Friday, for example, Maine Congressional members urged Trump not to put a tariff on seafood because they are anxious the Chinese would retaliate with a similar measure and hurt the state's lobster industry, which exports millions of dollars worth of lobster to the Asian country. "They must open their markets and take down their trade barriers!" he wrote.

In addition to Canada and the USA, the other G7 countries are Japan, the United Kingdom, France, Italy and Germany. Canada countered by imposing higher tariffs on steel and aluminium from the United States while Mexico planned to target USA agricultural products.

Joseph Galimberti, the president of the Canadian Steel Producers Association, says he urged the government in a cabinet meeting today to immediately impose the retaliatory tariffs on metals while it consults on other products.

Galimberti said American steel continues to flow into Canada tariff-free while Canadian steel now faces tariffs.

"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. 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.

The last example was Friday's Tweet about trade with Canada.

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"If we do not charge fees for selling their products, and they make us pay [duty of] 25%, 50% or even 100%, is unfair", said the President of the United States.

The retailer would have to pay a $32.50 tariff on the shipment, raising the total price from $500 to $532.50.

"The Liberal government is the government that put supply management in place and it is the Liberal government that will protect supply management".

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".

Trump asserted that the USA had to be treated fairly on trade. Ryan has said Nafta's biggest problem "comes from the north". The EU has stated that they are preparing similar tariff responses.

Mnuchin said he had informed Trump of his discussions but that trade was only one of many issues on a full agenda. It was originally proposed in March on imports from Canada, Mexico, and the European Union.

The European Union is also planning a tariff counter strike and filed a request on Friday for consultations with the World Trade Organisation.

After years of trade agreements that bound the countries of the world more closely and erased restrictions on trade, a populist backlash has grown against globalization.

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