Trumps trade tariffs insulting, unacceptable: Trudeau

The United States confirmed steel and aluminium tariffs would be levied on imports from long term allies Canada, the European Union and Mexico.

Other big United States demands may also be on the table. Canada and the European Union are also eyeing action on a wide swathe of goods that includes food.

But the EU’s Malmstrom said there would be no such wider trade talks as long as the USA measures were in place.

Mr Trudeau said: “Canada is a secure supplier of aluminium and steel to the U.S. defence industry, putting aluminium in American planes and steel in American tanks”.

Others speaking out include Here for America, which represents global automakers and dealers that operate in the United States, and the American Chemistry Council, which said the tariffs would mean higher costs to build USA manufacturing capacity.

Le Maire had earlier Friday referred to the talks as a “G6 plus one”, with the United States standing apart, adopting a joke circulating among attendees at the weekend.

Any chance of a quick deal on a renegotiated NAFTA has been scuppered by U.S. President Donald Trump’s decision to end an exemption for Canada and Mexico from crippling tariffs on steel and aluminum exports, Canadian government insiders say.

Analysts say China is unlikely to budge on those plans, which it sees as crucial for developing its huge economy.

A visibly frustrated Trudeau responded nearly immediately, saying Canada will impose tariffs against imports from the USA of steel, aluminum, and other products.”We are imposing dollar for dollar tariffs for every dollar levied against Canadians by the USA”, he said, adding the levies will take effect July 1 and will remain in place until the USA eliminates its measures against Canada.

He was presiding over the meeting which has been dominated by fears of a trade war.

The president took to Twitter Friday to accuse Canada of treating US “farmers very poorly for a long period of time”. Highly restrictive on Trade! He also launched the largest trade action that Canada has taken in eight decades.

Canada unveiled a package of counter-tariffs on U.S. imports valued at Can$16.6 billion (US$12.8 billion).

“To be honest with you, I wouldn’t mind seeing NAFTA where you’d go by a different name where you make a separate deal with Canada and a separate deal with Mexico”, he said.

The White House said Trump told French President Emmanuel Macron of the need to “rebalance trade with Europe”.

The EU’s planned retaliatory measures, meanwhile, are created to do maximum harm to USA prestige and economic interests, with them threatening to hit $3.5 billion of goods, including iconic products such as blue jeans, motorcycles, and bourbon whiskey, as well as agriculture.

He said: “There could potentially be thousands of job losses”.

G7 governments were also digesting Trump’s threats to impose tariffs on hundreds of billions of dollars in USA auto imports on purported national security grounds.

Trudeau added that Canada would impose dollar for dollar tariffs on steel, aluminium and other products.

“The inevitable result of putting these tariffs on imports will be to increase prices on consumer goods for its own citizens”.

In Canada, prime minister Justin Trudeau said the tariffs were “totally unacceptable”.

The door to trade negotiations with the United States is closed for the moment, EU Trade Commissioner Cecilia Malmstrom said on Friday.

Ross is due to hold meetings on Sunday, before departing Beijing on Monday, a US Commerce Department official told CNN.

A US Treasury spokesman was not immediately available to comment on the G7 discussions.

Steel is the second biggest industry in the world after oil and gas.