US President Donald Trump threatens tax on European Union cars

Equity Gains to Reach Asia as Trade Worries Ease: Markets Wrap

The White House official said the proposed 10 percent tariff on aluminum imports would result in a mere Dollars 25,000 increase in the price of a USD 330 million Boeing 77.

Ms Malmström told the BBC: "We are looking at possibilities to retaliate, meaning we will also put taxes or tariffs on United States imports to the European Union".

They also seem likely to damage USA allies such as Canada more than Trump's ultimate rival China.

Ryan spokeswoman AshLee Strong said in a statement, "We are extremely anxious about the consequences of a trade war and are urging the White House to not advance with this plan".

Trump announced new trade restrictions Thursday, including a 25 per cent tariff on steel imports and 10 per cent duty on aluminum, but didn't say whether Canada would be exempt.

If Canadians are hoping to be spared from American tariffs, they may be disappointed.

Until recently, the US probe into the national security risks of steel and aluminum had been considered separate from the Nafta discussions.

In justifying the measure, the administration invoked a national security law, departing from an global consensus not to impose trade barriers. While Trump does have the authority to issue tariffs, Business Insider's Josh Barro writes that Congress could simply pass a new law stripping him of that power, then try to override his veto.

The Global Times, an English-language Chinese newspaper under the Communist Party's People's Daily, published an op-ed Saturday titled "Trump Building 21st Century Economic Great Wall".

Ottawa did not directly respond to Unifor's call, but Trudeau said: "The United States has a $2 billion surplus on steel with us, so we regard the imposition of any tariffs on steel and aluminum between our two countries as absolutely unacceptable".

Theresa May has told Donald Trump of her "deep concern" at his plan to impose tariffs on steel and aluminium imports into the US.

Putin, before vote, says he'd reverse Soviet collapse if he could: agencies
The audience of senior officials and lawmakers broke into applause, giving him a standing ovation at one point. The Russian military has been left red-faced over fake footage in the past.

"Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed", he added.

Trump has long criticized the North American Free Trade Agreement.

Earlier in the day, a major Korean business lobby, Federation of Korean Industries, said it has asked 565 U.S. lawmakers, officials and opinion leaders to press the Trump administration to reconsider the action.

"Well I think that we should look at all options in the national interest", Mr Bowen told ABC radio today.

Trump was expected to finalise the planned tariffs later in the week, posing a tough challenge for USA trade representative Robert Lighthizer, Canada's foreign minister Chrystia Freeland and Mexican economy minister Ildefonso Guajardo.

President Donald Trump is reaffirming that two close allies of the USA will be affected by his planned import tariffs on steel and aluminum.

The U.S. and Canadian steel and aluminum industries are heavily integrated, with major U.S. players owning portions of both, including Alcoa and Stelco.

"They know that this individual, this government, is far more protectionist and we are at risk".

As to the idea of retaliation, they may well be some sort of retaliation.

Tim Phillips, president of the Koch Brothers-backed Americans for Prosperity, noted that Trump narrowly won in Iowa and Wisconsin, two heavily rural states that could suffer if countries impose retaliatory tariffs on American agricultural goods.

Related News:

Most liked

Secret Service: Male shot himself to death near White House
A White House official told Fox News: "The White House is aware of the situation and the president's been briefed". The Secret Service says a man shot himself outside the White House, and medical personnel are on the scene.

Kell Brook knocks out Sergey Rabchenko in comeback fight
I'm ready for it. "I'm going to go out and win another world title, you're going to see me perform like this every time". The young American went on to challenge IBF king Jarrett Hurd while Rabchenko dropped back to fighting journeymen.

Shubhankar Sharma shines again to keep control in Mexico
Sharma is eyeing to become the first since Jim Benepe at the 1988 Western Open to win a first US PGA Tour title in the tour debut. He rolled in a 16-foot birdie putt at 14 to reclaim sole possession of the lead, and he was two clear even after his bogey at 16.

Real Madrid vs Getafe: Zidane reacts to 3-1 win
Ronaldo, who had a goal disallowed for offside midway through the second half, was substituted shortly after his second goal. His record in the Champions League this season is, of course, ridiculous - 11 goals from seven appearances.

PNB officer got jewellery as bribe from Nirav: CBI
Modi said that he is engaged in his businesses overseas . "The amount is likely to go up", CBI lawyer Limosin A told the court. In case of default, the bank issuing the LoU has to pay the liability to credit giving bank along with accruing interest.

Sharma takes halfway lead
The 21-year-old Indian's remarkable rise continued to gather pace as he claimed a two-shot halfway lead at Chapultepec Golf Club. The five birdies he picked up on the back nine, including at the final three holes, helped him stamp his authority on the event.

Mike Zimmer says Sam Bradford has 'degenerative' knee issue
He's got the heart of a lion - a champion. "I'm not saying they'll be back for sure, but I'm not going to say they are gone". I think his best thing is if he's just used on certain passing downs, try to limit his reps to 30ish, you know, a game.

Penn State upsets Ohio State in Big Ten tourney
But with many other bubble teams losing this week, they felt that they still had a shot at an at-large bid. It's hard to beat a ranked team once, or even twice in a season as an unranked opponent.

Oosthuizen holds early WGC Mexico lead
The Tour posted a tweet featuring a certain Cameron Paisley who wasn't listed on the start sheet but it was subsequently deleted. He put together a 7-under 64 on the Chapultepec Golf Club, which sits at an altitude of more than 7,600 feet above sea level.

Teams want QB Jackson at WR in combine
I love to score. "I love those boys - Jarvis Landry , that would be a great offense". "I just love winning, yes sir". But hours later, Jackson said he was "shocked" by the news because "no teams have asked me to play wide receiver".

Naftogaz claims $2.56bn win
Gazprom had said that the court rejected demands of Naftogaz to increase the tariff for gas transit from Russian Federation . Kyiv has not bought any Russian gas at all since November 2015, replacing it with reverse-supplied Russian gas from Europe.

Tiger Woods to play in Valspar Championship in Palm Harbor
The PGA Tour says he committed on Friday to play next week in the Valspar Championship at Innisbrook . Woods had surgery on his troublesome back last April and was sidelined for nearly 10 months.

Billy Graham funeral to serve as evangelist's final crusade
Smith and the Gaither Vocal Band. "He asked if they could make one for his mother and father", BGEA spokesman Mark DeMoss said. A guiding light to generations of American evangelicals, Graham is said to have converted millions to Christianity.

Tori Spelling Has Cops Called On Her During Reported Mental Breakdown
In November of that same year, she was sued by American Express for $87,000 in credit card debt. "The burden has landed on Tori ". Ironically enough, Spelling called the police on Wednesday night because she thought an intruder was trying to get into her home.

Dana White Continues To Tease Brock Lesnar's Potential UFC Return
Lesnar had come to Las Vegas the day before as the photograph going around of him with Dana White was taken on Sunday afternoon. The 40-year-old returned to the UFC in the summer of 2016 after a five-year absence and beat Mark Hunt in his comeback fight.