Trade war? Trump blasts Canada on Twitter

01 June, 2018, 18:29 | Author: Brooke Harris
  • The European Commission has said the EU should be permanently exempted from the tariffs

The U.S. steel and aluminum action has set off a big enough reaction as is, forcing Canada to threaten its own dollar-for-dollar tariffs against U.S. goods that include steel, aluminum and maple syrup. "What they can do, we're able to do exactly the same".

The proposals are so complex that many observers have speculated that it would be easier to simply pay the existing 2.5 per cent vehicle import tariff than to try to comply with potential new USA rules in order to get duty-free NAFTA treatment. It believes the new tariffs are in clear breach of WTO rules and rejects United States claims that they are necessary on national security grounds.

Europe and Mexico reacted to the USA move with their own lists of tariffs on American products, raising fears of a trade war among allies. "This is protectionism, pure and simple".

The EU trade commissioner, Cecilia Malmstrom, said Thursday the EU "did everything to avoid this outcome", as the bloc announced it would bring the case to the World Trade Organization (WTO) on Friday.

The measures, which target pork legs, apples, grapes and cheese as well as steel and other products, will be in place until the U.S. government eliminates its tariffs, Mexico's Economy Ministry said.

Branding the move by United States president Donald Trump as "just protectionism", he said: 'We absolutely do not rule out counter measures. U.S. House Speaker Paul Ryan said the deadline to receive a notice of intent to sign a deal was May 17, and then said there may be a couple of weeks of wiggle room, placing the deadline around now.

But let's suppose that, after a lengthy investigation, the U.S. Commerce Department determines that the import of all those Mercedes, BMWs, Hyundais, Toyotas, Mazdas and Subarus from overseas - and of course the Chevys, Fords and Chryslers from Canada and Mexico -actually undermined U.S. national security. "Sooner or later prices will reflect those increased costs of steel and aluminum".

Throughout his presidential campaign, Trump accused China of dumping steel on the U.S. market - and said previous presidents had made a series of "bad deals" to promote free trade.

It's a bad day for world trade. These could come into force from June 20, although European Union officials said it might take a little longer.

Pret A Manger Stores Sold
Pret's serves sandwiches, salads and wraps that are prepared daily in the company's shop kitchens. In 2017, the company said it gave away 3.4 million food items.

The EU also vowed to retaliate against a list of USA goods worth over $3 billion, including bourbon, orange juice, motorcycles and blue jeans.

If Canada and Mexico choose to take retaliatory measures, it will not affect the ability to keep renegotiating NAFTA as a separate track, he added. "Do Timber & Lumber in US?"

Canadian and Mexican officials also threatened retaliatory responses but have as yet not indicated which USA products they will target.

Canadian Steel Producers Association President Joseph Galimberti said his organisation was consulting with members and studying the products covered.

The US announcement of tariffs on steel and aluminium immediately triggered vows of retaliation from Mexico and the European Union, which called the tariffs "protectionism, pure and simple".

But the EU's Malmstrom said there would be no such wider trade talks as long as the USA measures were in place.

"The President has said he believes he could win a trade war".

Mr. Trump, in his proclamation announcing the new tariffs, said he did it to protect national security.

In Frankfurt, shares in Deutsche Bank fell sharply, losing seven percent at the close, after the U.S. Federal Deposit Insurance Commission classified the German lender among its "problem banks" according to a person familiar with the matter.


  • Zinedine Zidane steps down as Real Madrid coach

    Zinedine Zidane steps down as Real Madrid coach

    Rodriguez left Real Madrid for Bayern Munich 12 months ago and blossomed as the club eased to the Bundesliga title. Resolving the futures of Gareth Bale and star striker Cristiano Ronaldo will be priorities for the new boss.
    National Donut Day 2018: Free doughnuts and other deals happening June 1

    National Donut Day 2018: Free doughnuts and other deals happening June 1

    No, this is not a joke, the first of June celebrates Salvation Army members who served doughnuts to soldiers during World War I. Duffy's Sports Grill: Free order of Red Velvet Mini Donuts per table at Miami Beach and Kendall locations .
    Chelsea eye former Napoli coach as Conte replacement

    Chelsea eye former Napoli coach as Conte replacement

    Chelsea are also being linked with Leon Bailey, Jamaal Lascelles and Jean-Michael Seri. La Repubblica put the breakdown as €5m in basic salary plus bonuses.
  • Sears is Closing 72 More Stores

    Sears is Closing 72 More Stores

    The lower sales resulted in a $424 million loss for Sears Holdings , the holding company that owns by Sears and Kmart. Sears will shutdown their location at the Chesterfield Mall as well as their location at South County Center.
    Cahill had to dig deep for Chelsea and England recall

    Cahill had to dig deep for Chelsea and England recall

    The Italy global does a lot with those passes too, as he has contributed 90 chances for his club in Serie A, with nine of them creating goals for his teammates.
    Man, I wish I’d picked a different AG!

    Man, I wish I’d picked a different AG!

    He said that no fair-minded prosecutor would hire attorney Andrew Weissmann as Mueller has. If Sessions does bail, though, maybe Trump should consider Gowdy for the job.
  • OECD expects global economy to grow 3.8 pct in 2018

    OECD expects global economy to grow 3.8 pct in 2018

    In terms of investment, the global body said that, after four years of decrease, it will return to growth for 4.5 percent in 2018. In the United States, growth would accelerate by 2.9 percent in 2018, then inch down to 2.8 percent in 2019, it said.
    De Beers to start marketing lab-grown diamonds

    De Beers to start marketing lab-grown diamonds

    Company executives vowed never to sell artificial stones, and it participated in the diamond industry's "real is rare" campaign. De Beers has been making synthetic diamonds for industrial customers for decades but had avoided selling them as jewellery.
    Roman Abramovich drops Chelsea's £1bn Stamford Bridge expansion plan

    Roman Abramovich drops Chelsea's £1bn Stamford Bridge expansion plan

    Chelsea have ditched plans to build a new 60,000-seater stadium due to what they call an "unfavourable investment climate". They are presently only authorised to fill 57,000.
  • Stephen Curry Speaks Highly of LeBron James Ahead of Game 1

    Stephen Curry Speaks Highly of LeBron James Ahead of Game 1

    Former NBA referee Steve Javie broke down the play after the game on "SportsCenter", making clear just how close the call was. And then tonight in the finals on the biggest stage, when our team played well, played our ass off, man, it ain't right.
    Pompeii: New find shows man crushed trying to flee eruption

    Pompeii: New find shows man crushed trying to flee eruption

    Director General of the archaeological park, Massimo Osanna , described the discovery as a " dramatic and exceptional find ". The 35-year-old victim was seemingly beheaded by a hurtling stone that also crushed his thorax, experts claim.
    Australia exempted from USA  tariffs on steel and aluminium

    Australia exempted from USA tariffs on steel and aluminium

    Canada will also launch challenges of the US tariffs at the World Trade Organization and through a Nafta panel. He said he planned to travel to China on Friday for trade talks between the world's two biggest economies.


Spain: The rise and fall of Mariano Rajoy
Market-friendly Ciudadanos, leading in the national opinion polls, was the only major party that supported Rajoy. The Socialists tabled the no-confidence vote last week after 29 former members of the ruling Popular Party...

Israel's Lieberman in Moscow for Syria talks
Assad vowed to claw back areas of Syria held by the US-backed Syrian Democratic Forces (SDF), an alliance of Kurdish militia. The agreement envisages Iranian forces pulling out from the entire area and Syrian rebels there surrendering heavy weapons.

Shahid Afridi to lead ICC World XI in his last int'l match
England internationals Sam Curran and Tymal Mills have also been added to the squad, increasing the roster to 14 members. Eoin Morgan was named as the captain of the World XI side for the match against West Indies on May 31st at the Lord's.

Lava from Kilauea ‘hotter than ever’ after eruption, scientists warn
People who ignore mandatory evacuation orders do so at their own risk and are under threat of arrest. Some 71 homes have been destroyed by lava since the first outbreak happened almost four weeks ago.

Who's going to win the NBA Finals?
Love has averaged 13.9 points and a team-high 10.0 rebounds in the playoffs for Cleveland. "He thought it was over", Lue said. But Durant scored six points in a 9-2 spurt after that, putting the Warriors up 97-85 with about 3 minutes to go.

Assassin's Creed Odyssey Leaked, Suggests Ancient Greece Setting
A few days ago, an anonymous 4Chan user posted a big list of details about the game, also calling it Assassin's Creed Odyssey . Beyond the tweet, information about the title's gameplay mechanics, storyline, and protagonist is scarce.

Starbucks Closing Today For Anti-Bias Training
Several black coffee shop owners in Philadelphia are suggesting that black customers make a habit of seeking out their businesses. The entire session will last four hours, the Associated Press reported . "Workers will also view a short documentary film".

Trump tweets he will give full pardon to Dinesh D’Souza
And despite the fact that he leads the government, Trump has complained that the government treats him unfairly, too. D'Souza was convicted of making an illegal campaign contribution of $20,000 (£15,000) in 2014 to a NY politician.

Atari VCS Pre-Orders Available Through Indiegogo Today, Campaign Easily Surpasses Goal
The machine will cost $300 for the Atari VCS Day One Collector's Edition , exclusive for Indiegogo for a limited time. Interested gamers can also pick up a classic joystick for US$29 or splurge on a modern controller for US$49.

Gasoline Holding at Just Below $3 a Gallon, Crude Oil Price Sliding
Higher crude prices are starting to affect demand, Daniel Yergin, vice chairman of consultant IHS Markit Ltd., said on Friday. The spread between Brent and U.S. crude oil stands at almost $9 per barrel, its widest since March 2015.