Sanders statement on Trump tariffs

Canadian Prime Minister Justin Trudeau declines to meet Trump because of US precondition

Finance leaders of the closest US allies vented anger over the Trump administration's metal import tariffs but ended a three-day meeting in Canada on Saturday with no solutions, setting the stage for a heated fight at a G7 summit next week in Quebec.

"We look forward to continued negotiations, both with Canada and Mexico on the one hand, and with the European Commission on the other hand, because there are other issues that we also need to get resolved", Ross told the reporters in a telephone briefing on Thursday.

Mexico said that the tariffs would "distort worldwide trade" and vowed to penalize USA imports, including pork, apples, grapes, cheeses and flat steel.

He said G7 officials expressed concern to US Treasury Secretary Steven Mnuchin during the session on trade that the US tariffs posed a risk to global economic growth.

The world's two biggest economies have threatened to impose tariffs on up to $200 billion worth of each other's products.

The EU has launched its first counteroffensive against Washington's punishing steel and aluminium tariffs while the USA began meetings in Canada with outraged finance ministers from its top trading partners.

As reported by NPR, the trade commissioner said while the European Union does not intend to escalate any situation, not responding would indicate that the European Union is willing to accept the tariffs, which they consider is "illegal". The U.S. team also wants to secure greater intellectual property protections and an end to Chinese subsidies that have contributed to overproduction of steel and aluminum.

The Europeans are also planning countermeasures against the U.S. that include counter-duties on steel products, bourbon whiskey, peanut butter, motorcycles and jeans. Earlier this week, German Finance Minister Olaf Scholz told Reuters that the EU's response to the tariffs must be "clear, strong, and smart".

Trudeau earlier deplored a decision by Trump to impose tariffs on steel and aluminum imports.

He continued: "The reason I don't know is because he's talked about the fact of this, he's anxious about trade surpluses, trade deficits around the world".

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May said the United States should immediately rethink its decision, in what seems to be her first comment since the imposition of the tariff 24 hours ago.

"I stated that I thought we were quite close to reaching an agreement, and perhaps the time had come for me to sit down with the president in Washington in order to finalize the NAFTA agreement", Trudeau said in French.

The tariffs of 25 per cent on steel products and 10 per cent on aluminium, which affect the EU, Canada and Mexico, came into effect on Friday.

Theresa May has broken her silence over the escalating trade war between the U.S. and its allies, saying that the European Union and the United Kingdom should be "permanently exempted" from tariffs.

Against this backdrop, we highlight some industries that could be impacted the most by the tariffs.

She also announced a case against China at the WTO over the alleged infringement of intellectual property rights, saying the simultaneous action showed that the European Union was being evenhanded.

Canada has already mulled over several counter measures with the decision expected to be made after consultation with relevant ministries and heads of the regions, the channel reported Thursday. "It's Donald Trump's failure to understand the implications for the United States and world economy of his isolationist policies".

That summit, which will be hosted by Prime Minister Justin Trudeau, will also mark Trump's first visit to Canada as president.

The British leader, who has sought to underscore the trans-Atlantic special relationship, said Friday she was "deeply disappointed" by the Trump administration's decision.

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

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