Mexico Hits US With Retaliatory Tariffs

07 June, 2018, 11:33 | Author: Lora Ball
  • WATCH Opposition Leader asks Prime Minister why there’s delay in Canadian tariffs taking effect

Mexico promised retaliatory measures after the US announced it would go forward with its plan to impose steel and aluminum tariffs.

The EU says it expects to retaliate next month after the U.S. imposed tariffs on the bloc's steel and aluminium products, sparking fears of a global trade war.

On Sunday, Canadian Prime Minister Justin Trudeau called the tariffs "insulting" in an interview with NBC News.

"There are disagreements. He's sticking to his guns".

Good luck, suggested Kudlow, the director of the U.S. National Economic Council.

Trump has previously admitted to making a claim to Trudeau that he wasn't sure was true, insisting that the US had a trade deficit with Canada.

This isn't the first time Mexico employed a similar trade tactic to try to extract concessions from the US.

NAFTA, the three nation trade pact, generally prevents the US, Mexico and Canada from imposing tariffs on imports from one another.

According to CNN's sources familiar with the conversation, Trudeau pressed Trump on his national security justification for the tariffs, to which Trump replied: "Didn't you guys burn down the White House?".

More news: Iran Could Unleash New Refugee Wave, Netanyahu Tells Merkel

In addition to the tariff fracas, the two countries remain far apart in negotiations over a new version of the North American Free Trade Agreement, with dwindling prospects of a deal getting done anytime soon. Historians note the British attack on Washington was in retaliation for the American attack on York, Ontario, in territory that eventually became Canada, which was then a British colony.

Trump mentioned the idea on Friday following a meeting with an official from South Korea.

The Mexican tariffs target USA pork, produce, bourbon, and steel - products chosen with a political objective in mind.

The problem with that remark is that British troops were actually responsible for burning down the White House during the War of 1812.

CNN reported the President may have been joking, but the tariffs, justified on national security grounds by the Trump administration, have left Canadians furious.

The package would include increased purchases of USA soybeans, corn and other agricultural goods. -Canada relationship - as well as the effort by Canadian politicians of different stripes to appear united when they press Washington on trade issues.

The statement, the official added, would accept no language about Iran not respecting the terms of the nuclear accord or any condemnation of the agreement. The administration granted temporary exemptions to several key allies, including Canada, Mexico and the European Union. The House proposal goes as far as to single out China among a proposed group of hostile nations whose companies could undergo extra scrutiny for national security risks if they seek to buy stakes in U.S. corporations.

It is now clear that the United States and the other G-7 countries are "no longer singing from the same hymn book", and that has serious ramifications for the global trading order, said Lynn Fischer Fox, a former deputy assistant secretary for policy and negotiations in the U.S. Commerce Department's International Trade Administration.

Despite the G7's efforts to coax the Trump administration away from a go-it-alone approach, some analysts now question whether Washington remains committed to basic policies that have upheld the post-World War Two worldwide economic system.

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