Trump, Trudeau trade barbs over tariffs

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"If Europe's answer would result in the US imposing additional tariffs, the impact of imposing tariffs on each other could be felt quite quickly, but otherwise probably not", Vitsur explained. But they did not sound optimistic.

"U.S. steel prices are already almost 50 percent higher than those in Europe or China, and aluminum prices have been extremely volatile; this move would add substantially to these challenges", Myron Brilliant, executive vice president and head of global affairs for the chamber, wrote in a post.

The tariff exemptions for Canada, Mexico and the European Union expire on Friday.

"These tariffs will harm industries and workers on both sides of the Canada-U.S. border and will disrupt supply chains that have made steel and aluminum from North America more competitive across the whole world", he said in a press conference in Ottawa.

The United States used 5.5 million tonnes of aluminum past year, largely imported from Canada, but only produced about 700,000 tonnes domestically.

US hopes talks will continue: US Treasury Secretary Wilbur Ross had said he hoped the US could continue trade negotiations with the EU, Canada and Mexico despite the tariffs. "That is why we are challenging the United States and China at the WTO", EU Trade Commissioner Cecilia Malmstrom said. "Nothing", French President Emmanuel Macron said in an impassioned speech at the Organization for Economic Cooperation and Development in Paris.

The united front was delivered from European Union's trade commissioner Cecilia Malmstrom who warned President Trump of retaliation. "One can think about making voters happy by saying, 'I have a victory, I'll change the rules, you'll see'". Its list, released previously, would consider tariffs on Levi's jeans and bourbon. Well, they have a 2 billion surplus on steel with us.

Rising costs especially hurt consumers and companies that rely on imported components.

"The U.S. now leaves us with no choice but to proceed with a [World Trade Organization] dispute settlement case and with the imposition of additional duties on a number of imports from the U.S. We will defend the Union's interests, in full compliance with worldwide trade law", Juncker said in a statement. He pledged that the European response would be "united and firm".

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EU Trade Commissioner Cecilia Malmstrom said the bloc was challenging the legality of the new US tariffs, and that negotiations with Washington were not now possible.

"These tariffs are an affront to the long-standing security partnership between Canada and the United States", said Trudeau, as Ottawa hit back with retaliatory duties on USA imports worth up to C$16.6 billion (RM51.1 billion).

After meeting with Ross, German Economy Minister Peter Altmaier told reporters that he doesn't expect a decision soon on foreign cars.

In terms of the NAFTA talks, the tariffs could hinder the negotiations among the North American neighbors.

The biggest problem with tariffs is who pays them.

In a statement, Harley-Davidson said retaliatory tariffs "would have a significant impact on our sales" in those countries. He noted that "China has not used that as an excuse not to negotiate". Discussions could then be expanded to include other countries to agree on changes by the end of the year.

"We will keep fighting", Turner said.

An even higher-stakes trade dispute is playing out on the Pacific Rim.