Monday, 25 June, 2018

EU Announces New Tariffs On Dozens Of Goods From The US

Theresa May slams Trump for imposing tariffs on allies Modal Trigger Theresa May Getty Images
Leonard Rios | 08 June, 2018, 17:16

Macron said that recent trade actions taken by Trump are counterproductive to the economy of the United States.

Mr Trump's top economic adviser Larry Kudlow says other are counties are to blame for the current situation because they have taken advantage of the US.

U.S. President Donald Trump will be leaving the G7 summit early, White House says.

The fallout from Trump's imposition of steel and aluminum tariffs on his G7 partners, as well as broader disagreements on trade and climate change, was also fuelling the G6-plus-one divide that has the USA increasingly offside with its allies.

"It is laughable", Prime Minister Trudeau said, "To say that Canada, France represent a threat to America's national security".

He's in stand-offs with Mexico, Canada, China, Japan, and members of the European Union (EU), a collection of countries that includes numerous world's largest economies and the largest USA trading partners. But even though he has made his criticism of globalization a major part of his appeal to voters, Trump was the main target of a protest by around 400 demonstrators on Thursday night who set fire to United States and other G7 flags.

But the U.S.is getting more serious about the possibility.

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The Canadian leader is embroiled in rows with Washington over steel and aluminum and negotiations over the North American Free Trade Agreement. She met with her counterpart, Secretary of State Mike Pompeo, as well as Sen. "Frank, yes", the official said. On Tuesday, Kudlow doubled down.

"His (Trump's) statement was completely inaccurate", said Major Tanya Grodzinski, an associate history professor at the Royal Military College of Canada.

"Now I know this is just three countries, but still, you know, oftentimes, when you have to compromise with a whole bunch of countries, you get the worst of the deals". US stocks were trading higher on Wednesday. "Canada is a whole lot different from Mexico". Late Thursday, the White House announced he would leave the summit Saturday morning, after a session on women's empowerment but well before it wraps up. Canada, for instance, warned it would hit the USA with almost $17 billion worth of tariffs on goods like toilet paper and maple syrup.

Those new tariffs are in response to the Trump administration's decision to apply import taxes to steel and aluminum.

"From coast to coast, a very strong Team Canada effort is pulling together, except apparently for the leader of the Opposition".

They issued a joint declaration that affirmed the importance of the world's multilateral institutions that included a commitment "to shared values like liberty, democracy, respect for human rights, and the rule of law".

"To claim that some incident from 200 years ago is the rationale behind the tariffs is completely unjustified, and it makes me question the basis of his policy and if there's any thought to it whatsoever", Grodzinski said.

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