PM won't rule out financial support for steel, aluminum workers

PM won't rule out financial support for steel, aluminum workers

Trudeau didn't specify what that might mean in the wake of USA 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.

Using the auto tariff as an example, The Wall Street Journal estimates that although a 25 percent tariff on USA imports of automobiles and parts from all countries may create an additional 92,400 auto-related jobs in the United States, close to 300,000 jobs will be lost as the effect of the tariff ripples across the economy.

Speaking on "Fox News Sunday", Larry Kudlow said that the Trump administration's confrontation with Canada is a "family quarrel" that can still be resolved through negotiations.

That condition "makes no sense", the Canadian leader said Sunday. "Additionally, we believe a punitive, retaliatory tariff on Harley-Davidson motorcycles in other major markets would have a significant impact on our sales, our dealers, our suppliers and our customers in those markets". There are not tariffs on steel or aluminum coming from the United States today. "But we see no sign of that in this action today by the USA administration".

The dispute is over President Donald Trump's new levies on steel and aluminium imports from Canada, Mexico and the European Union, prompting threats of retaliatory action.

"We're clearly not a security risk, so I see it as an isolated issue for us to talk about and agree that they should move forward and take these tariffs off", he said.

Distribution of aid could be a thorny challenge. Business leaders in the USA and Canada say that wouldn't offer the stability or predictability companies need. Steel service centres buy steel from mills - both in North American and offshore - and process it for downstream users such as manufacturers.

The protectionist actions by the Trump administration seem to have changed that relationship, but U.S. Treasury Secretary Steven Mnuchin maintains that the U.S.is committed to its role, telling reporters after the meeting, "I don't think in any way the U.S.is abandoning its leadership in the global economy".

Catalonia government sworn in, ending Madrid's direct rule
Mr Sánchez is opposed to another independence referendum in Catalonia, but wants talks on the situation in the prosperous region. But they have very different targets, with Spain's Socialists, who had backed Rajoy's Catalonia policy, opposing independence.

"If ultimately that's monetary, if that's what's required to preserve investment and employment in Canada, to make sure that those 23,000 Canadians in steel continue working, then that's what we'll do".

"This is the approach we took with softwood lumber, we'll be taking the same approach yet again this time with Quebec firms in aluminum".

He has pushed for China to open its markets more to USA agricultural exports, which would give Trump a win to brag about and likely boost his chances of winning farm states like Iowa in the 2020 election.

At the same time, the Trump administration is considering slapping tariffs on $150 billion in Chinese goods in response to what the USA says is Beijing's forced technology transfers on US companies seeking to do business there.

Canada is the biggest foreign supplier of steel and aluminum to the United States.

The U.S.is a vastly larger economy than Canada.

In response to the USA move, Canada and the European Union have threatened to retaliate with tariffs of their own, prompting France's finance minister to say the "tense and tough" Whistler meetings were much more of a "G6 plus one" than a G7.

"What this G7 is going to show is that the United States are alone against everyone and especially alone against their allies", French Finance Minister Bruno Le Maire told reporters on Friday before a meeting of his counterparts in British Columbia. "[Places] like Egypt. Turkey is an active presence".

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