Canada Retaliates With Tariffs on $12.8 Billion of U.S. Goods

President Donald Trump during a bill signing ceremony at the South Court Auditorium of the Eisenhower Executive Building in Washington

Trump Slaps Steel and Aluminum Tariffs on the E.U., Canada, and Mexico

"The ties of commerce, friendship, and in many cases, family, between Americans and Canadians are undiminished", he said, in announcing that Canada is slapping counter-tariffs on the United States.

Economists say the standoff with the European Union could tip toward a trade war, particularly after Trump last week launched another national security investigation into vehicle and truck imports that could lead to new USA tariffs. But if there are no exemptions, she said, "We will respond in an intelligent, decisive and joint way", Merkel said in Lisbon.

Tariffs of 25% on steel imports and 10% on aluminium were due to be imposed on the EU, Canada and Mexico from midnight, Mr Ross said. USA trading partners had demanded that the exemptions be extended or made permanent.

Imposition of tariffs on European steel and aluminium imports could provoke retaliatory tariffs and inflame trans-Atlantic trade tensions.

The US administration also launched a national security investigation last week into auto and truck imports, using the same 1962 law it has applied to curb incoming steel and aluminum.

President Donald Trump had originally imposed the tariffs in March, saying a reliance on imported metals threatened national security. European Union exports potentially subject to USA duties are worth 6.4 billion euros.

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South Korea, Argentina, Australia, and Brazil have all signed separate trade deals with the United States, and will be exempt from all or part of the tariffs.

In Canada, Prime Minister Justin Trudeau said: 'These tariffs are totally unacceptable'. Mexico's Ministry of Economy went on to say "Mexico reiterates its openness to constructive dialogue with the United States, its support for the global trading system and its rejection of unilateral protectionist measures".

He says the USA action leaves the European Union with no choice but to proceed with a case in the World Trade Organization. It plans to immediately draw up a list of U.S. products for retaliatory measures, including yachts, whiskey, orange juice and jeans.

President Donald Trump had announced the tariffs in March.

But the Chamber argued that Trump's agenda could undermine, with the administration's plans to renegotiate the 23-year old North American Free Trade Agreement (NAFTA) appearing to stall after months of high-level meetings.

The White House has sought to include a "sunset" provision in the NAFTA renegotiation for months, but Canada and Mexico have always been cool to the idea, saying it would remove any economic security and certainty for businesses trying to comply with trade rules.

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EU members have given broad support to a European Commission plan to set duties on €2.8bn ($3.4bn) of U.S. exports if Washington ends tariff exemptions.

The decision, which comes just days after Trump broke a cease-fire in an escalating trade dispute with China, is certain to inflame relations and invite retaliation.

Mexico announced it will retaliate with duties on U.S. products including fruit, pork bellies, cheese and flat steel. Macron pledged the riposte would be "firm" and "proportionate" and in line with World Trade Organization rules.

Henrar said it was too early to estimate the consequences for Tata Netherlands' exports to the USA, which yearly amount to around 500 million euros ($584 million).

"President Trump is mainly hurting the American steel industry and consumers by driving up prices".

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