Trump, Canada tariffs: States that would lose the most exports

Trump, Canada tariffs: States that would lose the most exports

WASHINGTON - In a sharp rebuke from one of America's closest allies, Canadian Prime Minister Justin Trudeau criticized the White House rationale for imposing punitive trade tariffs on Canada as "insulting and unacceptable", the latest leader to warn of a looming trade war with the U.S.

Trump is levying tariffs on the metals, starting Friday, on imports from Canada, Mexico and the European Union.

Galimberti says American steel continues to flow into Canada tariff-free while Canadian steel now faces tariffs south of the border.

US President Donald Trump suggested Friday the United States might pursue separate free trade agreements with Canada and Mexico to replace the 24-year-old three-nation NAFTA pact.

Countries around the world are fighting back against President Donald Trump's decision to slap tariffs on steel and aluminum imports, announcing retaliatory countermeasures and warning that the US plan will hurt USA consumers. Canada has responded to the tariffs with retaliatory dollar-for-dollar "countermeasures" on up to $16.6 billion worth of American imports. "They must open their markets and take down their trade barriers!" he wrote. The list which covers 10- pages of US products includes bourbon and Harley Davidson motorcycles. "Why is the prime minister waiting three weeks to impose these counter-measures specifically on steel and aluminum when the US tariffs came into effect right away?"

"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.

G7 governments were also digesting Trump's threats to impose tariffs on hundreds of billions of dollars in USA auto imports on purported national security grounds. "And we also imposed duties on consumer goods, finished products that Canadians can easily find an alternative", he said. He blames what he calls their abusive trade policies for America's persistent trade deficits - $566 billion a year ago.

Washington D.C. [USA], Jun 3: United States President Donald Trump on Saturday claimed that the USA was being taken advantage of by other countries on trade for the past many years.

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Business leaders in Canada and the USA have predicted dire economic consequences as a result of the decision.

Mr Morneau said Canada's government is not ready to discuss support or potential bailout packages for Canadian business sectors affected by the tariffs.

Two things: Raise government revenue and protect domestic industries from foreign competition.

Morneau has said Ottawa is buying the project from Kinder Morgan Canada in order to help the expansion overcome political risks.

For example, Massow said, Canada imports just $3 million worth of yogurt from the USA annually - most of which is from Wisconsin, the home state of House Speaker Paul Ryan. The EU has stated that they are preparing similar tariff responses. The official said a range of issues remain to be resolved but the US looks forward to continuing the negotiations with Canada.

Tariffs fell out of favour as global trade expanded after World War II.

Trump has made no secret of his overriding concern about USA trade imbalances, viewing them as a sign of American weakness around the globe.

More broadly, economists say trade restrictions make the economy less efficient.

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