US Tariffs Raise Fears of Trade War with American Allies

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Canadian officials said at a press conference that Canada would enact tariffs on $12.8 billion in USA exports, effective July 1, to retaliate against Trump's action.

"We follow this with a lot of anxiety", Malmström said of the investigation.

The tariffs, which have increased friction with USA trading partners worldwide and prompted several challenges before the World Trade Organization, are aimed at allowing the U.S. steel and aluminium industries to increase their capacity utilization rates above 80% for the first time in years.

She spoke on the sidelines of Cansec, an annual arms-trade show where defence companies from around the world showcase their wares to government and military officials.

Washington angered its major allies by slapping duties of 25% and 10% on imports of aluminium and steel.

Wilbur Ross came a little closer to honesty about the government's policy when he stated: "We take the view that without a strong economy, you can not have strong national security".

After President Trump first announced the tariffs in March, the European Union threatened retaliatory actions.

The United States will be slapping tariffs on Canadian steel and aluminum effective midnight tonight. Argentina, Australia, Brazil and South Korea all came to the negotiating table, while European Union officials said they would not negotiate trade issues "at gunpoint".

"This is not the way we do business, and certainly not between longstanding partners, friends and allies", EU Trade Commissioner Cecilia Malmstrom said in a statement.

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On Thursday, however, Trump announced that those exemptions were not being extended, and his decision immediately drew furious responses from Canadian President Justin Trudeau, German Chancellor Angela Merkel and French President Emmanuel Macron.

The United States, Canada and Mexico have been renegotiating the North American Free Trade Agreement, which governs trade between the three countries.

The EU has threatened tariffs on US products such as jeans, Harley Davidson motorbikes and bourbon - measures aimed at the political bases of US Republican legislators.

"We regret that. We would much rather move together in partnership", he said.

Mr. Trump, in his proclamation announcing the new tariffs, said he did it to protect national security. The European Union is ready to retaliate immediately following the tariffs.

Henrar said it was too early to estimate the consequences for Tata Netherlands' exports to the US, which yearly amount to around 500 million euros ($584 million).

"A growing list of tariffs proposed or imposed by our government, as well as the continued uncertainty over the future of Nafta, threatens to undermine the economic progress we have made", Donohue wrote in the memo. European Commission President Jean-Claude Juncker told AP that "it's totally unacceptable that a country is imposing unilateral measures when it comes to world trade". The EU also started the process of filing a complaint with the World Trade Organization.

Mexico, too, said it would impose retaliatory duties on a variety of United States goods, including steel and a host of agricultural goods, including pork, apples and various cheeses.