Trudeau: Canada's steel industry can breathe 'sigh of relief' af

Trump tariffs: China warns trade war would be 'disaster'

Trump tariffs: China warns trade war would be 'disaster'

Australia has a trade and investment deficit with the United States, which is understood to have played a considerable role in alleviating Mr Trump's sense of grievance.

Japan and Australia are among others asking to be exempt from the proposed import duties of 25 per cent on steel and 10 per cent of aluminum.

Trudeau "emphasised that preserving (the two nations') mutually beneficial supply chains is critical to jobs and businesses on both sides of the border", according to a summary. He is working to reassure anxious workers the government has and will continue to have their backs. At the time of the signing, Trump had included exemptions only for US North American Free Trade Agreement partners Canada and Mexico. Canada and Mexico have already been exempt from the tariffs.

A trade war between the United States and China will spell "disaster" for the entire world economy, Chinese Commerce Minister Zhong Shan has warned, after Donald Trump signed orders greenlighting stiff tariffs on imported aluminum and steel.

Heritage, in fact, reported in late February that Trump during his first year in the White House has embraced 64 percent of the policy recommendations by the conservative think tank.

Trump's tariffs, like his hardline NAFTA demands, have the prospective to turn the internationally integrated auto industry upside down.

VG: It really depends on what the United States will do.

Trump announced his intentions to introduce tariffs on aluminum and steel March 1, 2018, to varied reactions, including a sell-off in the New York Stock Exchange. Last week Trump said any tariffs would be implemented in a "loving way".

Should Trump's tariffs stay in place for the long term, it is expected that the US steel and aluminum industry will benefit, with under-capacity mills increasing output and idled plants restarting.

Turnbull also said he would not join any moves by the European Union to bring a complaint to the World Trade Organisation over the tariffs.

Sal Guatieri, economist at BMO, said US consumers will feel the pinch as manufacturers pass on the higher costs of production materials. It is very counterproductive.

Commerce Secretary Wilbur Ross will speak with representatives of the European Union about eliminating tariffs on USA imports, President Donald Trump said in a tweet on Monday morning. He said that the move comes in response to the aggressive behavior of exporters.

Brazil has said it will seek exemption from the newly imposed tariffs.

When China said Google and Facebook could not operate in China, it was declaring a trade war, and moreover, also declaring an ideological war. He called for a multilateral approach rather than multiple bilateral actions. European Commission President Jean-Claude Juncker responded with a list of threatened tariffs on U.S products, lamenting: "This is basically a stupid process".

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