US Tariffs Raise Fears of Trade War with American Allies

U.S. President Donald Trump | Alex Wong  Getty Images

The measures, which target pork legs, apples, grapes and cheese as well as steel and other products, will be in place until the USA government eliminates its tariffs, Mexico's Economy Ministry said.

Mexico, too, said it would impose retaliatory duties on a variety of USA goods, including steel and a host of agricultural goods, including pork, apples and various cheeses.

In the wake of the USA slapping steep tariffs on imports of Canadian steel and aluminum, Justin Trudeau hit back, saying that he hopes common sense will prevail in trade dealing between the two countries.

EU: Juncker said the bloc would move forward with tariffs on equal value to the steel and aluminium measures. The tariffs have been justified on the basis of Section 232 rules which allow trade protection from foreign imports that threaten national security.

United States Commerce Secretary Wilbur Ross says exemptions for Canada, Mexico and Europe from import duties of 25 per cent on steel and 10 per cent on aluminum will expire as of midnight, as scheduled.

The EU, Canada and Mexico learned yesterday that they will not be exempted from the decision of US President Donald Trump to slap tariffs of up to 25 per cent on metal imports.

"We believe, as we have always said, it is a great outcome for the USA and for Australia".

Speaking of NAFTA, Trudeau said he told Mr. Trump last week he would go down to Washington with Freeland and personally sit down with the president to work out details.

He said the tariffs will in the long run increase the cost of global beer production but have a disproportionate impact on American brewers and jobs.

Procurement Minister Carla Qualtrough predicts "significant consequences" to Canada's defence industry as the US moves to impose tariffs on Canadian steel.

The European Union moved ahead Friday with a slew of retaliatory countermeasures in response to the Trump administration's steel and aluminum import tariffs.

The US granted temporary exemptions to the EU, Canada and Mexico amid negotiations over limits. "But we see no sign of that in the US action today", he said, describing the tariffs as "a turning point in the Canada-US relationship".

The government of Theresa May had pinned post-Brexit hopes on securing a trade deal with the USA, and the imposition of tariffs on steel is adding to fears that negotiating a quick trade liberalization agreement with Trump looks increasingly unlikely.

The EU threatened to make good on a threat it issued in March to impose tariffs on imports from the USA that is 10 pages long, including everything from corn and tobacco, to T-shirts, Levi's jeans, bourbon, motor boats and various forms of steel.

Labour's Barry Gardiner called for a reaction to USA levies on aluminium and steel from Europe and North America.

"We have been, and will continue, to work closely with our customers on potential product exclusions as the vast majority of the products Tata Steel Europe exports to the U.S. can not be made by USA steel companies, such as our extra wide strip, battery quality hot rolled material as well as certain packaging steels", he said.

Why is the USA imposing tariffs?

She said if there were no exemptions, "We will respond in an intelligent, decisive and joint way".

The British government said it was "deeply disappointed" and the United Kingdom and other European Union countries "should be permanently and fully exempted" from the tariffs. "They must open their markets and take down their trade barriers!" the President tweeted.

U.S. President Donald Trump look on as he welcomes South Korea's President Moon Jae-In in the Oval Office of the White House in Washington, U.S., May 22, 2018.

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