Justin Trudeau Says Tariff Exemptions And NAFTA Deal Are Not Linked

EU Dismisses Trump's Car Threats, Vows to 'Stand Up to Bullies'

Trudeau to kick off tour of steel and aluminum factories in Quebec

He temporarily exempted big steel producers Canada and Mexico - provided they agree to renegotiate a North American trade deal to his satisfaction. "We have given them more money", he said.

The Commission said it expected to be in contact with Washington over the metals tariffs this week, but that no formal talks had been scheduled.

Commerce Secretary Wilbur Ross will speak with representatives of the European Union about eliminating tariffs on US imports, President Donald Trump said in a tweet on Monday morning.

The president announced last week that the United States would impose heavy tariffs on imported steel and aluminum, with some countries potentially exempted.

Germany is the only European Union nation that ranks in the top 10 sources of US steel imports, coming in in ninth place, according to IHS Global Trade Atlas data cited by CNBC for the first nine months of 2017.

"That being said, any benefits attributable to tariffs are likely to be outweighed by costs".

Trudeau said he's willing to work with the US on a stronger solution.

The steel and aluminum industries did not need these tariffs to be more competitive globally, because they were already made more competitive thanks to the recently enacted Tax Cuts and Jobs Act (TCJA). Steel prices have also been on the rise.

In its formal comments submitted to the Commerce Department on the 232 steel and aluminum investigations, AAPC highlighted the fact that its automakers source the vast majority of the steel and aluminum used in USA -built cars and trucks from American mills and smelters. The Commission spokesman also pointed to U.S. import duties of up to 48 per cent on shoes, 12 per cent on textiles and 164 per cent on groundnuts.

It has also lined up 2.8 billion euros of U.S. products, from maize to motorbikes, on which to impose tariffs so as to " rebalance" trade flows.

The announcement of duties of 25 percent on imported steel and 10 percent on aluminium has stung the European Union, coming as a surprise to USA allies and also to many in Washington. We believe that protectionism is a dead end, " French Economy Minister Bruno Le Maire told reporters.

The EU topped the list, followed by Brazil, South Korea, China and then Japan.

Data last week showed that the USA trade deficit had jumped to an over nine-year high in January, with the country's shortfall with China widening sharply.

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