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Trump takes aim at Canada after Trudeau's retaliation over new U.S. tariffs

04 June, 2018, 00:16 | Author: Priscilla Morrison
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He says NAFTA has been "a very lousy deal" for the USA and says, "they're our allies but they take advantage of us economically".

In blunt language, Mr. Trudeau also took aim at a USA demand in the NAFTA renegotiations that he said killed progress on a deal.

The comments came hours after Trump lashed out at Canada by tweet, accusing America's northern neighbor of treating "our Agricultural business and Farmers very poorly for a very long period of time".

The Financial Post led with the fact that the other six members - Canada, France, Germany, Italy, Japan and the United Kingdom - had issued a statement critical of recent US actions. The US, Canada and Mexico trade more than a trillion dollars in goods annually.

But hope faded when US Commerce Secretary Wilbur Ross announced that the United States would impose tariffs of 25 per cent on steel and 10 per cent on aluminium from Canada and others from Friday.

In an exclusive interview with NBC's "Meet The Press", Trudeau said that he failed to understand what Trump wanted to accomplish, The Hill reported.

For those unversed, on June 1, Trump announced that he will impose steep tariffs on steel and aluminium on Canada, Mexico and the EU.

Mr. Trump has pushed relations between Canada and its largest trading partner to their tensest point in recent memory: American tariffs on steel and aluminum have sparked a trade war over more than $30-billion worth of goods.

Freeland noted that the United States has a USD2 billion trade surplus with Canada in steel, and that "roughly half" of all USA steel exports go to Canada.




On NAFTA, Trump said: "Earlier today, this message was conveyed to Prime Minister Justin Trudeau of Canada: The United State (sic) will agree to a fair deal, or there will be no deal at all".

"I think he's overreacting", Kudlow said of Trudeau.

Kudlow also said the steel and aluminum tariffs on USA allies "may go on for a while" or "they may not", because the matter is subject to negotiation.

Mnuchin rejected comments from some G7 officials that the United States was circumventing worldwide trade rules with the tariffs or ceding global economic leadership. "By taking measures that violate G7 and World Trade Organization rules, the United States is actually benefiting China".

"I don't think in any way the U.S.is abandoning its leadership in the global economy, quite the contrary".

"We must find a way to get out of this", German Finance Minister Olaf Scholz told reporters following the meeting.

Late Thursday, U.S. President Donald Trump sent a very sharp warning - directed at Trudeau - over the pending NAFTA negotiation.

Trudeau on Thursday said he was prepared to travel to Washington to try to finalize a rework of NAFTA, but Pence, in a phone call, said a meeting would occur only if the "sunset" provision was agreed to in advance.

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