Published: Sun, June 03, 2018
Global News | By Blake Casey

Canadian PM Justin Trudeau Responds to Trump’s Steel Tariffs: ‘This is Insulting’

British Prime Minister Theresa May said she was "deeply disappointed" and reiterated a call for Britain and the European Union to be "permanently exempted" from the "unjustified" metals tariffs.

The White House released a statement from Trump Thursday night saying of NAFTA, "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".

"There was an important difference of opinion", Canadian Finance Minister Bill Morneau told reporters at the closing press conference of the G7 summit in the resort ski town of Whistler, Canada, on Saturday.

The U.S. president has said the tariffs are needed to protect U.S. steel and aluminum industries vital to the nation's security.

The EU and Canada on June 1 lodged complaints against Trump's tariffs with the World Trade Organization (WTO), the first step in the trade dispute process through the Geneva-based arbitrator. "It's been a lousy deal for the United States from Day One", Trump said Friday, dismissing objections from some of the country's closest allies.

"We're in the process of doing, we're redoing NAFTA, we're doing a lot of our trade deals, and we're negotiating properly with countries, even countries that are allies", he said during a roundtable in February of past year. This is a tactic that he has used successfully with other countries and the only way to deal with it is to stand up to a bully.

"If any of these parties does retaliate that does not mean there can not be continuing negotiations", Ross said.

While the looming threat of tariffs is already creating uncertainty in the marketplace, OSA and its national affiliate, the American Soybean Association, continues to ask the Administration to find ways to avoid a trade war that will leave USA farmers vulnerable during a time when they are already experiencing declines in farm income.

Canadian Foreign Minister Chrystia Freeland announced on Friday that Ottawa was planning to impose tariffs on American goods worth 16 billion Canadian dollars (USD 12.4 billion), including aluminium and steel.

"Canada has treated our Agricultural business and Farmers very poorly for a very long period of time", the president said in a tweet. Highly restrictive on Trade!

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It added that these measures are estimated to save consumers up to £34m a year. It feels the "need to intervene to protect financially vulnerable customers".

Trade war fears between the United States and its trading partners have been rife since March.

He told reporters Friday that he might consider separate trade agreements with those nations.

The move elicted loud complaints from USA allies.

European Union officials have also prepared a series of countermeasures against US products that the bloc's 28 member states are expected to finalize in the coming weeks.

The import duties threaten to drive up prices for American consumers and companies and are likely to heighten uncertainty for businesses and investors around the globe.

Nebraska Senator Ben Sasse called the tariffs (quote) "dumb" adding " We've been down this road before - blanket protectionism is a big part of why America had a Great Depression...

In a statement, Harley-Davidson said retaliatory tariffs "would have a significant impact on our sales" in those countries.

He says the tariffs will protect USA steelmakers, which he says are vital to national security.

The tweets only amplified the weird nature of a G7 meeting where Mnuchin had to explain to his NATO, NORAD and NAFTA partners why their imports posed a threat to American national security.

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