European Union to refer China to trade body in tech spat

EU to impose measures against 'unacceptable' US metal tariffs

In retaliation to the United States' tariff announcement, Canada has threatened to impose tariffs of up to $16.6 billion on some steel and aluminum products and other goods from the US - including gherkins and condiments - beginning July 1.

He has argued that global oversupply of steel and aluminium, driven by China, threatens United States steel and aluminium producers, which are vital to the US.

The Trump administration announced Thursday that it would be implementing tariffs of steel and aluminum from Europe, Canada, and Mexico.

Unsurprisingly, the countries hit by the tariffs are fighting back.

Speaking of NAFTA, Trudeau said he told Mr. Trump last week he would go down to Washington with Freeland and personally sit down with the president to work out details.

The US is the second biggest export destination after Turkey - 4.9 million tonnes of steel went there previous year.

Since Mr Trump's announcement in March, companies in the United States that buy metals have already reported higher steel prices and and complained that USA producers do not have the ability to meet demand.

U.S. Commerce Secretary Wilbur Ross.

These American steel workers might get more business, but at what cost?

"As to Canada, Mexico, you will recall that the reason for the deferral had been pending the outcome of the NAFTA talks", he said. Shares of industrial heavyweights Boeing fell 1.7 percent and Caterpillar 2.2 percent.

Will the trade war escalate?

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Exports from European Union that are affected by the new tariffs were worth 6.4 billion euros (almost $7.5 billion) in 2017.

Juncker said the European Union will not negotiate under threat.

Cecilia Malmstrom, the E.U.'s trade chief, lamented the failure of last-minute negotiations with her American counterparts but insisted that Europe's response would be firm.

European Union chief Jean-Claude Juncker said the 28-nation bloc "will announce in the next coming hours counter-balancing measures" in response to the U.S. action. Steffen Seibert, a German-government spokesman, also called the tariffs "unlawful". "The fact that we took a tariff action does not mean that we can not have trade negotiations". This is a very strong response, it is a proportionate response, it is perfectly reciprocal.

He said: "The administration will need to come to Capitol Hill to provide answers about the indiscriminate harm these tariffs are causing our local businesses".

French Finance Minister Bruno Le Maire termed the U.S. tariffs as "unjustified unjustifiable and dangerous".

Australian delegations, headed by Prime Minister Malcolm Turnbull and Foreign Affairs Minister Julie Bishop, have aggressively lobbied the White House in recent months to secure the exemption.

"We are imposing dollar for dollar tariffs for every dollar levied against Canadians by the U.S.", he wrote.

The trade actions have also opened the United States to criticism that it was burning bridges just as Mr Trump was seeking to rid North Korea of nuclear weapons and help stabilise the Middle East.

The news organization reports House Speaker Paul Ryan said there were better means to help American makers of steel and aluminum, and that he hopes to show Trump the other options.

Procurement Minister Carla Qualtrough predicts "significant consequences" to Canada's defence industry as the USA moves to impose tariffs on Canadian steel.

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