Trump hits United States allies with steel, aluminum tariffs

Trump hits United States allies with steel, aluminum tariffs

Trade officials from Washington and Brussels had continued discussions to find a solution, such as import quotas, that would convince Trump to extend the exemption for the European Union from the 25 percent tariff on steel and 10 percent on aluminum.

The Trump administration announced Thursday it will impose tariffs on steel and aluminum imports from Europe, Mexico and Canada after failing to win concessions from the American allies.

French Finance Minister Bruno Le Maire had said the tariffs would be "unjustified and dangerous".

The talks around the monumental trade deal are now stalled out and new tariffs aren't likely to help break the deadlock.

US Treasury Secretary Steven Mnuchin is due to hold meetings with his European counterparts to discuss President Donald Trump's confrontational trade agenda, officials said.

In terms of the NAFTA talks, the tariffs could hinder the negotiations among the North American neighbours.

By increasing the cost of imported steel and aluminum, companies that rely on the metals will be forced to either accept the higher costs and lower profits or pass on the price increase to consumers. "It's not about who attacks whom, and then wait and see who is still standing at the end".

More news: According to Federation Internationale de Football Association 18 anyway

Malmstrom is meeting U.S. Trade Representative Robert Lighthizer in Paris on Thursday among other worldwide trade chiefs.

"Those talks are taking longer than we'd hoped, there is no longer a precise date when they may be concluded, so they were added into list of those who will bear tariffs", he said.

If he does impose the tariffs, the European Union has vowed to hit back with its own tariffs on American goods, including iconic items such as Harley-Davidson motorbikes, blue jeans and bourbon whiskey.

With negotiations going nowhere, Trump made a decision to go forward with the tariffs.

'Unilateral responses and threats over trade war will solve nothing of the serious imbalances in world trade.

Ross repeated remarks he made on Wednesday in Paris during an OECD meeting that just because the United States have levied the tariffs doesn't mean that negotiations with the countries are halted even if they retaliate. "Nothing", French President Emmanuel Macron said in an impassioned speech Wednesday. "You saw his reaction when China chose to retaliate". "We are ready to rebuild this multilateralism with our American friends", he said. Canada is also considering imposing levies on high-profile US -made consumer goods and luxury items, with the goal of hurting the United States in a visible way without damaging Canada's economy by restricting necessary imports.

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