May tells Trump that U.S. tariffs on European Union steel are unjustified

06 June, 2018, 03:28 | Author: Teresa Adams
  • U.S. Allies Push Trump for Change of Heart as Trade War Looms

The move follows a US decision to impose tariffs on imports of Mexican steel and aluminum purchases, which took effect on Friday.

Mexico's retaliatory list, published in the government's official gazette, included a 20 percent tariff on USA pork legs and shoulders, apples and potatoes and 20 to 25 percent duties on types of cheeses and bourbon.

Canada's ability to replace USA sales is limited by its much smaller ham production than the United States and tight truck capacity, said Richard Davies senior vice president of sales and marketing at Olymel LP, one of Canada's biggest pork exporters, saying he did see possible higher ham premiums.

The peso sank to its weakest in more than a year earlier Tuesday on concern the U.S. may leave the North America Free Trade Agreement and try to negotiate two separate free trade deals with Mexico and Canada.

A new initiative, led by Freedom Partners Chamber of Commerce, Americans for Prosperity and The LIBRE Initiative, will spend millions opposing President Donald Trump's tariffs in support of free trade policies.

Those penalties will remain in place "until the United States government eliminates tariffs imposed", Mexico's government said.

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But without adequate transportation to get crude to the coasts, "we're going to continue to see some weakness in WTI", he said . Prices have fallen sharply in the past week amid expectations that OPEC will ramp up production, as well as a stronger dollar.

Trudeau was also asked about possible concessions the U.S.is seeking in the NAFTA talks.

Following the timeline from last week, the White House slapped steel and aluminum tariffs on Canada, Mexico and the European Union.

"I think they want a better deal on their auto sector from Mexico and I think they want more access on certain agricultural products like dairy to Canada", the prime minister said.

"But I say in all seriousness that escalation is not what we require - we need a proportionate response done calmly, with time to give the United States some reflection to change its mind".

The group rejected "the protectionist measures of the United States government".

More tellingly, the statement warned that promises made at previous talks would not be upheld if the Trump administration carried through on its threat of tariffs.

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The White House has said that it might move ahead with the imposition of tariffs on $50 billion of Chinese goods around the middle of this month if a broad agreement to slash the $375 billion trade deficit isn't reached. "It's a measure that Mexico has a right to in accordance with the trade agreement to compensate for the damage caused by the [United States'] tariffs, which they set under the alleged argument of national security", he said.

On Friday, he imposed 25 per cent tariffs on steel imports and 10 per cent on aluminium imports from Mexico.

Mexican Economy Minister Ildefonso Guajardo said his country would now "surely" look to Europe for pork products, used in many traditional dishes in Mexico.

A Windsor-based businessman has some advice for our Prime Minister; stop fighting with Americans over tariffs.

Trump suggested last week that NAFTA could be replaced with two separate trade accords, one with Mexico and another with Canada.

Separately, Mexico took steps on Tuesday to make it more attractive for other countries to send it pork by opening a tariff-free quota for some pork imports.

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Last week however, United States commerce secretary Wilbur Ross said the USA had made insufficient progress with its allies to reduce America's trade deficit, and lifted the waiver.

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