KXIP vs KKR Live Score

French President Emmanuel Macron said in a statement Friday that he told Trump in a phone call that the new USA tariffs on European, Mexican and Canadian goods are illegal and a "mistake".

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".

Late Thursday, President Donald Trump responded in a statement released by the White House, "Earlier today, this message was conveyed to Prime Minister Justin Trudeau of Canada: The United State (sic) will agree to a fair deal, or there will be no deal at all".

Trudeau added that he does not know what Trump wants Canada to do in order to remove the tariffs, because the USA actually exports more steel to Canada than Canada sends to the US, and when it comes to oversupply from China, Canada is on the same page as Trump.

Mexico has vowed to retaliate with tariffs on American lamps, pork, flat steel, and more. The E.U. and Canada also opened cases against the US with the World Trade Organization related to attribution of national security threats.

The American move - which prompted retaliatory measures from Canada and others - threatens to drive a powerful wedge into the G7, and could fracture the long-standing multilateral relationship into something observers describe as a "G6 plus one", with the U.S.as the outlier.

Tim Phillips, the president of Americans for Prosperity, said the tariffs amounted to "self-imposed barriers" to the $1.5 trillion tax overhaul that Trump signed into law in December. Part of the 10 per cent levy at the wholesale level may eventually be passed on to Canadian consumers in the retail price, if the tariff war persists.




"From the beaches of Normandy to the mountains of Afghanistan, we have fought and died together", said Trudeau.

The EU also plans to slap heavy tariffs on other products such as bourbon, U.S. denim, motorcycles, motor boats etc. He defended his administration in a series of tweets Monday, invoking an argument he has often used to explain his thoughts on the issue: that the United States is already losing a trade war.

Theresa May has told President Donald Trump that United States tariffs on European Union steel are "unjustified and deeply disappointing".

Two things: Raise government revenue and protect domestic industries from foreign competition. "On trade, the USA has quite dramatically become a source of discord and division". Before the establishment of the federal income tax in 1913, tariffs were a big money raiser for the US government. The EU has stated that they are preparing similar tariff responses. China pledged then to take steps to "substantially" reduce the USA trade deficit, including by buying more American farm goods and energy, though it didn't commit to a dollar amount. Macron pledged the riposte would be "firm" and "proportionate" and in line with World Trade Organization rules.

Trudeau and the European Union condemned the steel and aluminum tariffs, and tempers will no doubt be high on June 8 when leaders hold a traditional discussion about trade.

The U.S., Canada and Mexico have been holding talks to renegotiate the deal. "The US has been ripped off by other countries for years on Trade, time to get smart!" he wrote.


COMMENTS