Trump warns countries of reciprocal tariffs

Trump warns countries of reciprocal tariffs

Trump warns countries of reciprocal tariffs

Trudeau said on Sunday that he is having "a lot of trouble getting around" that Canada has abruptly become "a national security threat to the United States".

The G7 leaders have also exchanged tough words over the issue, with Trudeau saying Sunday that calling Canada a national security threat to the United States is "quite frankly insulting".

On Friday, Trump told Canada and the European Union to do more to bring down their trade surpluses, a day after hitting the two U.S. allies and Mexico with import tariffs on their steel and aluminum.

In the interview published this Sunday, Trudeau confirmed his nation will establish reciprocal direct tariffs in retaliation.

At the same time, he called the attention on the fact that Trump said to be anxious over the commercial deficits that, in the case of Canada, the USA has a superavit of two billion dollars in the steel trade.

In the coming week, Prime Minister Justin Trudeau will also have to navigate an increasingly complex relationship with U.S. President Donald Trump when Canada hosts the G7 leaders' summit.

The U.S., Canada and Mexico have been holding talks to renegotiate the deal. Oil and gas pipelines use a special type of steel, much of which is not made in the United States.

He says the U.S., Mexico and Canada are all very different countries, suggesting that the idea of a trilateral trade deal doesn't make sense - a notion he has floated before as a possibility should the current NAFTA talks fail to reach a consensus.

Trudeau said the reciprocal tariffs would hurt both U.S. and Canadian workers and consumers.

One Canadian insider said traditionally, Canada was too small for retaliatory trade action against the U.S.to have an impact, but Trump has gone after so many countries at once that the pushback globally is big enough to have an impact on the American economy.

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"What the United States is going to say is that there is a provision in the [World Trade Organisation] that says, 'Yes, you can break your tariff commitments, you can discriminate if you fall under the terms of this security exception, ' " she says. They cite a 35 per cent drop in steel industry jobs in America over the last 20 years as foreign steel displaced US production and a 58 per cent drop in aluminum production jobs between 2013 and 2016.

Trump and other G7 leaders meet next weekend in Quebec.

The complaint, which aired Sunday on NBC's "Meet the Press," was a dramatic departure from the conciliatory approach Trudeau has shown to President Donald Trump over the past year, and signaled the growing pushback from USA allies to the protectionist trade policies.

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 US actions.

"And that's why I regard this as more of a family quarrel".

Underscoring that Washington D.C. has a United States dollars 2 billion surplus on steel with Ottawa, the Canadian Prime Minister said, "The reason I don't know [what he wants] is because he's talked about the fact that he's anxious about trade surpluses, trade deficits around the world".

Morneau has said Ottawa is buying the project from Kinder Morgan Canada in order to help the expansion overcome political risks. "We're that interconnected, so we want a win/win, and that's what we've been working toward".

The move elicited loud complaints from US allies.

France's Le Maire opened the door to negotiations over USA tariffs, but said the ball is in Trump's court. "So it's not like trade is imbalanced against the U.S. favour on us".

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