Trudeau hits back at Trump tariffs, Kudlow says he's 'overreacting'

Jun 04, 2018, 00:18
Trudeau hits back at Trump tariffs, Kudlow says he's 'overreacting'

The Canadian lumber industry is coping with heavy US duties on softwood, and the renegotiation of the North American free-trade agreement has proven fruitless.

"You're talking about a very different two countries".

As tariff battles commence and a new NAFTA deal has yet to take shape, Canada's limits as the kind neighbour are being tested, the prime minister said.

In addition, tariffs against China could cost 134,000 U.S. jobs, steel and aluminum tariffs could cost 470,000 jobs, and tariffs on autos and auto parts could cost 157,000 jobs, Donohue warned.

The E.U. and Canada also opened cases against the US with the World Trade Organization related to attribution of national security threats.

Canadian Finance Minister Bill Morneau said he told Mnuchin it was "our absolute view that this is absurd that Canada could in any way be a security risk".

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"There's some early signs that that may be possible", Kudlow said.

Canada and the European Union have both filed cases at the World Trade Organisation challenging tariffs of 25 per cent on steel and 10 per cent on aluminium imports to the USA announced by Trump on Thursday.

Ministers urged the quickly abandon the tariffs ahead of the leaders' summit before the move causes deeper divisions within the G7. He claimed the meeting was not at all a G6-plus-1 meeting like many have said it was.

Continuing his tirade against Trump, Trudeau rubbished the U.S. president's claim that it was imposing tariffs on steel and aluminium goods of Canada in order to "protect American national security interests".

Mr. Trudeau said Mr. Trump's concerns about a trade deficit in steel are misplaced when it comes to Canada.

Canada responded by imposing $16 billion worth of tariffs on the U.S.

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In his second tweet, he wrote, "If we charge a country ZERO to sell their goods, and they charge us 25, 50 or even 100 percent to sell ours, it is UNFAIR and can no longer be tolerated. They are (Canada) very restrictive as to taking our agricultural product and other things", he said. Highly restrictive on Trade!

Later this week, Trump is due to visit Canada for the Trudeau-hosted G7 summit, which will take place at a remote luxury resort in La Malbaie, Quebeca, and where he will meet with leaders of Germany, Italy, France, UK and Japan.

Hillman, a former member of the World Trade Organization's Appellate Body, told Weekend Edition that responding to the likely defense from the US will be tricky for the WTO.

On Monday, the 11th annual Southeastern U.S.

Trudeau reciprocated with retaliatory dollar-to-dollar tariffs and trade-restrictive countermeasures worth up to $16.6 billion in imports of steel, aluminium, and other United States products.

Trudeau also called the idea of Canada being a threat as "unacceptable", and said he doesn't know what Trump wants from the tariffs. Macron pledged the riposte would be "firm" and "proportionate" and in line with World Trade Organization rules.

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