Canada calls Insulting Justification of U.S. to Increase Tariffs

Canada calls Insulting Justification of U.S. to Increase Tariffs

"What companies is going to want to invest in Canada if five years later there might not be a trade deal with the United States?" he said.

And they asked the U.S. Treasury Secretary to convey that to President Trump.

The Financial Post led with the fact that the other six members - Canada, France, Germany, Italy, Japan and the United Kingdom - had issued a statement critical of recent USA actions.

The dragging on of the NAFTA talks was a key reason behind the USA move to target Canada and Mexico, but given the importance of that trade agreement to the continent's economy, neither US neighbour was deterred.

Trump said he "loves" both Canada and Mexico but accused them of taking advantage of the United States through unfair trade arrangements.

Trudeau, in an interview aired on Sunday by NBC's "Meet the Press", said it was "insulting" to hear the USA claim that Canadian steel and aluminum posed a national security threat.

The American government announced on Thursday morning that it will impose tariffs on Canadian steel and aluminum imports, which were effective as of midnight with a 25% tariff on steel and a 10% tariff on aluminum.

His tweet came Friday, the same day steel and aluminum tariffs were scheduled to take effect against Canada, Mexico and the European Union.

Trudeau reciprocated with retaliatory dollar-to-dollar tariffs and trade-restrictive countermeasures worth up to $16.6 billion in imports of steel, aluminium, and other USA products.

Freeland noted that the United States has a USD2 billion trade surplus with Canada in steel, and that "roughly half" of all U.S. steel exports go to Canada.

Ottawa [Canada]: Canadian Prime Minister Justin Trudeau on Friday dubbed trade tariffs imposed by the United States as insulting and unacceptable. "It can be solved if people work together", he said. Canada, China and the European Union also announced they will address these actions at the World Trade Organization.

"At the G7 meeting in the Canadian ski resort of Whistler, British Columbia, Canadian Finance Minister Bill Morneau said he expressed to Mnuchin "our absolute view that this is absurd that Canada could in any way be a security risk".

But in an interview on Fox Business Network's "Sunday Morning Futures", House National Trade Council Director Peter Navarro said the tariffs are necessary "for national security reasons".

The statement came as Wilbur Ross, the USA commerce secretary, and China's top economic official, Vice Premier Liu He, wrapped up a meeting on Beijing's pledge to narrow its trade surplus.

The EU has issued a 10-page list of tariffs on USA goods, ranging from Harley Davidson motorcycles to bourbon.

At the same time, a Trump aide said Trudeau was "overreacting".

Trudeau told reporters Trump's move effectively scuttled efforts to negotiate a revised North American Free Trade Agreement deal among the U.S., Mexico and Canada by demanding that Canada agree to a five-year "sunset clause", which Trudeau rejected.

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