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European Union sets July timeframe for USA tariff reprisals

08 June 2018

The U.S. announced tariffs on Canadian and Mexican steel and aluminum after talks stalled on a renegotiation of the North American Free Trade Agreement (NAFTA).

The French president is said to have criticized the United States commander-in-chief's imposition of tariffs on steel and aluminum imports from American allies, like Mexico, Canada and the European Union, a critique he also offered publicly.

But Trump took to Twitter earlier today to signal he's got his elbows up in advance of his Canadian debut in Quebec.

But the negotiations have bogged down amid efforts to satisfy Trump's demands for better terms, including a larger share of US-made components in North American autos, and a clause that would end the trade deal after 5 years unless it is renewed by the parties.

Kudlow said Trump doesn't plan on withdrawing from NAFTA, but he wants to try a different approach.

A call about trade and migration between US President Donald Trump and French President Emmanuel Macron soured last week after Macron candidly criticized Trump's policies, two sources familiar with the call told CNN.

"The impact on Canada and ultimately on workers in the US won't be a laughing matter", one source told the network.

With his new tariffs increasing US isolation, Trump heads to Canada on Friday for a meeting of the Group of Seven industrialized nations.

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Macron borrowed a quote from Otto von Bismarck, the 19th century Prussian statesman, to explain his stance on refraining from remarking off the record on his talks with other world leaders, the Reuters report said. Canada gained its independence from the United Kingdom on July 1st, 1867.

USA stocks, apart from those of steel and aluminum producers, have fallen sharply in response to Trump's recent tariff announcements and other actions against trading partners.

When Trudeau pressed Trump on national security justification for tariffs on Canada Trump responded: 'didn't you guys burn down the WH?' That was Britain during the War of 1812 ...

President Emmanuel Macron has signaled that progress on tariffs, Iran nuclear agreement and Paris climate accord must be made before he'll be willing to sign a joint statement, the official told reporters Wednesday in Ottawa.

While it has imposed tariffs on steel and aluminum imports from across the world, riling up allies in Europe, Asia and Canada, it has yet to enact any of the China-specific levies it has threatened. The EU and Canada have imposed reciprocal sanctions on USA goods and have taken their complaint to the World Trade Organisation.

Trump and U.S. Trade Representative Robert Lighthizer, who has been running the NAFTA negotiations, have both said that the U.S. should pursue bilateral rather than multilateral trade agreements. "The impact on Canada and ultimately on workers in the US won't be a laughing matter".

International Trade Minister Francois Philippes Champagne is dismissing the proposal being put forward by the Trump administration. The soldiers burned several federal buildings, including the U.S. Capitol and White House (then referred to as the Presidential Mansion).

European Union sets July timeframe for USA tariff reprisals