White House Imposes Tariffs on US Allies EU, Canada And Mexico

White House Imposes Tariffs on US Allies EU, Canada And Mexico

The White House announced that it would end a two-month exemption for the EU, Canada and Mexico from the 25% steel and 10% aluminum import tariffs announced in March, once again pointing to national security concerns as a primary motivating factor.

"We look forward to continued negotiations, both with Canada and Mexico on the one hand, and with the European Commission on the other hand, because there are other issues that we also need to get resolved", the U.S. commerce chief told reporters.

The Trump administration announced that the U.S will impose tariffs on steel, aluminum imports from Europe, Canada and Mexico, as a previously designated exemption expires tonight at midnight.

Discussions with the European Union made some progress didn't get to the point where it was warranted to give the bloc a continued temporary exemption or a permanent exemption, Ross said.

The European Union has already notified the World Trade Organization of plans to levy duties on $7.1 billion worth of USA exports in response, with the aim of collecting $1.6 billion in tariff revenue. But they can also increase costs more broadly for USA manufacturers who cannot source all their needs locally and have to import the materials. That hurts the companies and can lead to more expensive consumer prices, economists say. "It's not that we can't talk just because there's tariffs", he said.

The move will likely trigger serious retaliation from the three countries and push the United States to the edge of a trade war.

Europe had promised swift retaliation if it's hit with the trade penalties, and has warned it could quickly respond with 25% tariffs on USA products such as motorcycles, denim, cigarettes, cranberry juice and peanut butter.

Govt decision on M. bovis cattle disease
Mr Peters claims compensation could top around five-million dollars, including losses for more than a million tonnes of feed. Prime Minister Jacinda Ardern is announcing the government's decision at Federated Farmers' headquarters in Wellington.

The European Commission, which coordinates trade policy for the 28 EU members, has said the bloc should be permanently exempted from the tariffs since it is an ally and not the cause of steel and aluminium overcapacity.

Ross criticized the European Union for its tough negotiating position. But German Economy Minister Peter Altmaier insisted the Europeans were ready to negotiate special trade arrangements, notably for liquefied natural gas and industrial goods, including cars.

German magazine Wirtschaftswoche reported on Thursday that Trump had told French President Emmanuel Macron he wanted to stick to his trade policy long enough until no Mercedes-Benz cars were cruising through NY.

"This is a bad day for the world trade", he stressed.

"We would operate within (multilateral) frameworks if we were convinced that people would move quickly", he said.

The agency issued a report Wednesday saying "the threat of trade restrictions has begun to adversely affect confidence" and tariffs "would negatively influence investment and jobs".

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