Mexico imposes tariffs on USA pork exports

Trump may not be so good at building walls but he sure is great at burning bridges - according to CNN, the U.S. President had a "testy" phone call with Canadian Prime Minister Justin Trudeau last week regarding the new tariffs targeting Canadian steel and aluminum imports.

White House Press Secretary Sarah Sanders told reporters on Friday that the president remained "open" to bilateral discussions.

He had hoped to put the focus on jobs, security concerns, cleaning up the world's oceans and empowering women.

The Trump administration used an old trade law from 1962 to justify the tariffs as a national security issue.

The EU may begin retaliatory levies within weeks, having told the World Trade Organisation last month that...

President Donald Trump's recent tariffs against major USA allies like Canada, Mexico and the European Union could cost the country 400,000 jobs, economists estimate.

Pork-exporting Iowa is one example of a state that could be hurt by the Trump administration's decision and the ensuing tit-for-tat measures.

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"There may be disagreements, I regard this as much like a family quarrel".

When asked whether or not they think Trump's actions will cause a trade war, 62 percent of participants said it is likely, with 20 percent saying that result is unlikely and 19 percent stating they had no opinion. The U.S. imports $417 billion in goods from the European Union, $294 billion from Mexico and $278 billion from Canada. But observers noted that Trudeau's pointed rebuke last week, calling for "common sense" to prevail in the United States administration, marked a turning point for the worse in the relationship. In response, Trump quipped to Trudeau, "Didn't you guys burn down the White House?" referring to the War of 1812.

The criticism has been particularly acute from the summit's host, Canadian Prime Minister Justin Trudeau, who said Sunday the tariffs were "insulting" to the longstanding alliance between the US and Canada.

"Why is the prime minister waiting.to impose steel and aluminum countermeasures when those US tariffs are in effect right now?"

"We want a trilateral agreement - we've always said this", said International Trade Minister Francois-Philippe Champagne. "And my great hope is that our friends at the G7 will take notice of these policies and work with us to extend and expand them so we can have a prosperous USA and world economy".

To see why these three US allies are so upset, one need only look at the biggest suppliers of USA metals. "But let's also remember that these global rules have allowed all of our economies to prosper". It is broken and President Trump is trying to fix it.

USA goods exported to China a year ago totalled US$130 billion while Chinese imports to the U.S. totalled US$506 billion.

(Copyright © 2015. All Rights Reserved.)
 
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