Trump aide says Canada's Trudeau overreacting to trade dispute

Adjust Comment Print

But in an interview on Fox Business Network's "Sunday Morning Futures", House National Trade Council Director Peter Navarro said the tariffs are necessary "for national security reasons".

The EU, Canada and Mexico vowed retaliatory tariffs on US goods including motorcycles, T-shirts, jeans, grapes, apples, pizzas, mattresses and refrigerators. "But we see no sign of that in this action today by the U.S. administration".

"This measure will be in force for as long as the U.S. government maintains the imposed tariffs", the ministry said. "The extension of these tariffs on steel and aluminum to additional countries will hike prices, upend supply chains and cost American jobs". He warns the measures will destroy jobs on both sides of the border.

"So, what do you feel as if the president wants from you in putting these tariffs up?"

Freeland says the countermeasures, which apply to a long list of US products from flat-rolled steel to playing cards and felt-tipped pens, will go into effect July 1.

All six of the other G7 countries - Britain, Canada, France, Germany, Italy and Japan - are now paying the metals tariffs, which are largely aimed at curbing excess production in China. "We believe in the G7, it's an important group", he said.

More news: North Korea 'replaces top three military officials'

Just before the G7 meeting ended, Trump wrote on Twitter that "the United States must, at long last, be treated fairly on Trade". The unfolding trade spat now risks unleashing a transatlantic trade war that would further add to the already frosty relations between Washington and European capitals. But I think there's a bigger concern than just the steel that they can't send to the USA and that is that other countries are also not able to send steel to the U.S. and they all want to send that steal to someplace so they're likely to sell it to other places that United Kingdom is selling steel to and thus they'll face more competition there.

He said this would hurt foreign investment in Canada. China, its third-largest market, levied a 25 percent tariff on all imported pork in April. "That's really quite unusual in the history of the G7".

Kudlow acknowleged the dispute over trade could jeopardise a U.S. economy that is now "clicking on all cylinders" with surging growth and low unemployment.

USA apple growers are in a similar situation.

The Manitoba Chamber of Commerce said our province exports about $10 billion worth of goods and services to the USA every year. Their largest market is Mexico, which announced plans to target USA apples. "I don't want to get into the middle of that". The last four, all members of the European Union, were also targeted by Trump's tariffs.

Shares of Harley have traded down in recent days on concerns about a trade war hurting its profits. During its most recent quarter, the Milwaukee-based company reported a 12 percent drop in US sales and a 6.8 percent gain in Europe, the Middle East and AfrIca. Now we can't do that, ' Trump said.

More news: Six dead or missing after Guatemala's Fuego volcano erupts

Sputnik: As a reaction to all this the European Union, Canada they're saying they're going to challenge the U.S., I believe they already are, in the WTO, what effect could that intervention have?

Harley's views were echoed by the Distilled Spirits Council, a trade group representing whiskey producers, noting that a trade war would harm the hospitality sector, consumers and US farmers.

He said Canadians are insulted to be deemed a security threat when "our solders ... fought and died together on the beaches of World War II and the mountains of Afghanistan and have stood shoulder to shoulder in some of the most hard places".

Hun Quach, a vice president for the Retail Industry Leaders Association, noted that trade wars have consequences for many industries, including retailers.

European Union Trade Commissioner Cecelia Malmstrom said Trump's steel tariffs have nothing to do with national security and called them "pure protectionism".

More news: TMZ: 'Roseanne' reboot in the works at ABC, without Roseanne

Comments