U.S. 'playing risky game' with metal tariffs, says EU

Canada to impose tariff 'countermeasures' on US

Liam Fox Blasts Trump's 'Protectionism' Over Steel - But Still Expects Good Deal With US Post-Brexit

The EU, Canada and Mexico also threatened stiff retaliatory tariffs as they pushed back against Trump's moves.

The jeans maker Levi Strauss is also on the EU's target list.

"The United States has a two billion U.S. dollar surplus in steel trade with Canada, and Canada buys more American steel than any other country in the world", he added.

Brussels is also preparing to slap tariffs on U.S. products including bourbon, motorcycles and blue jeans worth up to €2.8 billion (S$4.4 billion). "They're critical for national security".

Though, hitting back didn't cause Trump to back down; instead, he took to Twitter Friday morning.

Mr Trump yesterday blasted Canada after Ottawa hit back with retaliatory duties on U.S. imports worth up to C$16.6 billion (S$17 billion). The Europeans might be able to stand up to the Americans (though as I say it would be unwise to do so), but the little ol' British?

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

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"I think we should all be insulted". Noting her discussions with US officials, she said.

They will remain in place until the United States eliminates its trade-restrictive measures against Canada, Freeland said.

"The unilateral action by the Trump administration severely damages that relationship".

He said he's still planning to make a trip to Beijing this weekend even after the U.S. announced it would slap tariffs on $50 billion in Chinese goods, jeopardizing a fragile agreement to reduce the United States trade deficit with China.

The European Union on Friday formally set in motion its trade retaliation against the USA tariffs, filing a request for consultations at the WTO, which oversees disputes on global trade.

On CTV's Question Period, former interim Conservative leader Rona Ambrose said she's supportive of the action taken by the federal government, but uncertainty looms over whether it will make a difference.

"He's rewriting the trade agenda for his own interests, and it's working".

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Public companies may feel pressure from shareholders who would expect them to fight the US government in court and get an injunction, he said in an interview.

"We've been absolutely clear on the retaliation..." The official said he believes there will not be a long-term impact on relations with affected countries and they "will get over this in due course".

Second, we need to understand the nature of trade. Mexico said it would levy tariffs on American farm products, while Canada zeroed in on the same metals that Trump has targeted.

Morneau said the steel and aluminum tariffs would not help ongoing trade talks between the two countries and would only harm both economies. It's the USA businesses and individuals who purchase those products.

At the Group of Seven ministerial meeting in Canada, US Treasury Secretary Steven Mnuchin faced stern reactions from his counterparts, who accused Trump of jeopardizing the world economy with steps that would prove job killers for all concerned.

The Trump administration used the threat of tariffs in NAFTA talks, saying Canada and Mexico would receive a permanent pass only as part of a renegotiated deal.

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