Trump's tariffs on European cars - a massive own goal?

US says time running short for NAFTA talks, floats bilateral deals

The European Union has said it plans to apply 25% tariffs on $3.5 billion of U.S. imports to the continent in response to "rebalance" trade.

"The federal government must stand and fight, here and now, against this threat by the United States government and supporting stakeholders", he said.

Peter Navarro, Mr. Trump's nationalistic trade adviser, told CNN's State of the Union on Sunday that Canada and other US friends, such as the European Union, would be hit with tariffs.

French economy minister Bruno Le Maire meanwhile said there would "only be losers" in a trade war between the U.S. and the EU.

Overnight Mr Trump had increased pressure on Canada and Mexico over trade, saying in a series of tweets that the two could avoid being caught in his planned hefty tariffs on steel and aluminium imports if they ceded ground to Washington in talks on a new North American Free Trade Agreemen (Nafta) trade deal. "No one wins. And they're very hard to stop".

Energy industry officials raised concerns about the tariffs on steel since the sector relies on imports.

Mexican Economy Secretary Ildefonso Guajardo says on Twitter that Mexico should not be included in Trump's proposed tariffs.

The article said Washington is disgruntled by its large trade deficit with China but it requires efforts from the US economic system to reverse the trend.

And Howe believes there's a good chance that Canada could be excluded from the tariffs. It seems the only ones feeling good about the tariffs are the steel and aluminum industries, whose stock prices rose while the market dropped.

Canada, the biggest supplier of steel and aluminum to the US, and Mexico, the No. 4 source of steel, have asked to be excluded from the tariffs.

US says time running short for NAFTA talks, floats bilateral deals
Trump's tariffs on European cars - a massive own goal?

While things may be tense on the political stage as the Canadian government slams trade restrictions announced by U.S. President Donald Trump on aluminum and steel, one Canadian union leader says local steelworkers have seen trying times before and aren't anxious about potential tariffs yet.

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

There are also local industry concerns that the tariffs could see cheap steel destined for the US flood the domestic market instead.

British Prime Minister Theresa May told Trump she had "deep concern" about the expected tariffs, May's office said on Sunday following a phone call between the two leaders.

The irony is that while Trump has repeatedly tried to target China and its trade policies, the steel tariffs would hit United States allies the hardest, in particular Canada.

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

Trump has threatened to tax European cars if the EU boosts tariffs on American products in response to the president's plan to increase duties on steel and aluminum.

The three countries are now in negotiations regarding the North American Free Trade Agreement.

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

The Trump administration has argued that it is imposing such a tariff under national security interests.

More news: Scientists found Penguin super colony from space

Related News:

  • China Ready To Hit Back At US

    China Ready To Hit Back At US

    Zhang said all countries adjusted their military spending depending on defensive needs and the state of the economy. However, proportionally, China's defence spending is less than other major countries, he said.
    Putin: Give Us Evidence Of Meddling, New Cold War In US Propaganda

    Putin: Give Us Evidence Of Meddling, New Cold War In US Propaganda

    Although Putin was given an ecstatic reception by his audience, some online comments were less than complimentary. Nearly half of his almost two-hour speech was dedicated to the country's latest weaponry.
    Horror As Doctors In Kenya Perform Brain Surgery On The Wrong Patient

    Horror As Doctors In Kenya Perform Brain Surgery On The Wrong Patient

    KNH CEO Lily Koros said on Thursday that they took action following the incident, in line with the hospital's procedures . Kenyatta National Hospital is Kenya's oldest and largest hospital, and also serves as a teaching hospital.
  • Al-Qaida-Linked Group Claims Responsibility For Burkina Faso attack

    Al-Qaida-Linked Group Claims Responsibility For Burkina Faso attack

    Plumes of black smoke could be seen above the army offices in western Ouagadougou where police and gendarmerie responded. This has continued to deal harsh "blows" to the economy of some of the poorest people in the world.
    North Korea, seeking 'equal footing,' rejects preconditions for United States  talks

    North Korea, seeking 'equal footing,' rejects preconditions for United States talks

    North Korea had been accused of hacking into cryptocurrency exchanges throughout 2017. It was unclear if Trump was joking or if formal U.S.
    MMA DFS Playbook: UFC 222 Cyborg vs. Kunitskaya

    MMA DFS Playbook: UFC 222 Cyborg vs. Kunitskaya

    Amazon Prime Video is bringing UFC pay-per-view events to customers in the US starting on March 3 with " UFC 222: Cyborg vs. Not that long ago, the talk throughout MMA was whether " Cyborg " would take on bantamweight champ, Amanda Nunes next.
  • Man City defeat Chelsea 1-0, strengthen grip on EPL top spot

    If they were to win all of their remaining nine matches, City would finish the season on 105 points. I understand not playing with a striker and being hard to beat, but you must have some intent.
    Selfies can make your nose look huge, researchers say

    Selfies can make your nose look huge, researchers say

    His team's facial model was based on data collected from a sample of racially and ethnically diverse participants in the US. To avoid the pain and thousands of dollars in plastic surgery costs, try finding a friend to take your photo 5 feet away.
    Hwy. 101 may close again in Santa Barbara County due to storm

    Hwy. 101 may close again in Santa Barbara County due to storm

    Lewin said a state Office of Emergency Services water rescue team is scheduled to arrive Thursday morning from out of the area. In Carpinteria, creeks that flooded Highway 101 on January 9 were not even a third full on Friday morning, Eliason said.
  • Q2 Weather: Falling snow stops, but blowing snow is still trouble

    Q2 Weather: Falling snow stops, but blowing snow is still trouble

    Winds will increase across the area today , causing areas of blowing and drifting snow with reduced visibility and hard travel. Heavy snow is possible, with accumulations of 6 to 9 inches, with localized amounts up to 12 inches, the weather service said.
    China strongly opposes passing of Taiwan Travel Act by US

    China strongly opposes passing of Taiwan Travel Act by US

    A spokesperson for the Chinese foreign ministry rebuked the Taiwan Travel Act, saying it "seriously violates" the One-China policy.
    Scientists have come up with a new classification of diabetes

    Scientists have come up with a new classification of diabetes

    Cluster 5 (39.1 percent): Mild age-related diabetes, older than patients in other clusters and only modest metabolic derangements. Similar to cluster 1 patients, this group includes young people of a healthy weight whose bodies do not produce insulin properly.


Most liked

Congress respects the people's mandate: Rahul Gandhi on northeast polls
NDPP secretary-general Abu Metha said the coalition is proposed to be named the People's Democratic Alliance. The battle and the focus now shifts to this state as assembly elections are just a couple of months away.

Zinedine Zidane: 'Real Madrid ready for Paris Saint-Germain atmosphere'
Deportivo La Coruna's winless streak under coach Clarence Seedorf increased to five matches after drawing with Eibar 1-1 at home. Bale opened the scoring from close range in the 24th minute. "It's true that it's going to be the first time for me", he said.

Shaquem Griffin Just Ran A Sub
Doesn't matter - I'm going to get it in though. "I was ready to attack it". "Hearing the crowd, having the juices flowing". He will go through his on-field workout with the rest of the linebackers at the combine Sunday.

Spartans, Wolverines to clash Saturday; Penn State advances to play Purdue
Cassius Winston hit a go-ahead jumper with 7:17 to play and finished with 17 points to help Michigan State improve to 29-3. Abdur-Rahkman and sophomore guard Zavier Simpson then converted layups to give MI a seven-point lead with 7:16 to play.

Naga governor asks Neiphiu Rio to form government
The party made me State president, and my job is to ensure we honour the people's mandate to the best of our capability", he said. The Congress had earlier staked a claim to form a government in the state after meeting Governor Ganga Prasad.

White House faces rumours about top security aide's exit
However, sources tell Garrett that the tension regarding McMaster is real, and that an exit strategy may now be in the works. Biegun has a long line of government jobs working as an adviser to relatively hawkish officials.

More than 2500 YPG militants 'neutralized' in Afrin op in Syria's north
Meanwhile, Syrian regime airstrikes and bombardment have killed hundreds of people over 12 days in eastern Ghouta. Rajo, located in the northwest of Afrin , is the second town centre liberated since the launch of the operation.

High wind warning issued; widespread power outages expected
Damage associated with tornadoes is scattered in all directions, rather than in one direction as in straight-line wind events. Behind that front, unseasonably cool weather (for early March) will continue with a chance of rain/snow in the mountains.

Uber, Lyft drivers make US$3.37 per hour
Someone might tell themselves that they already pay for their auto , so any money they make is pure profit. It was only past year that Uber introduced the option to tip drivers into its app for customers.

Neymar out for 3 months, says team doctor
Lasmar said: "Neymar suffered a fracture to the fifth metatarsal, it is an important fracture in a foot bone". Neymar is Brazil's talisman and carries his country's hopes of winning the tournament on his shoulders.

Victims identified in fatal shooting at Central Michigan University
Jr. are pending. "Everything was extremely vague", Yeagley said regarding Davis Jr.'s concerns at the time. Davis Jr. left the community police office and said he was leaving the residence hall in the morning.

President Ghani of Afghanistan offers Taliban a political path to peace
The Afghan Taliban on Monday calls on the U.S.to start a direct dialogue towards for "a peaceful solution". He said, "We are making this offer without preconditions in order to lead to a peace agreement".

Governor Rick Scott to highlight major action plan tomorrow
Scott said the proposed plan would not include arming teachers. "Florida's never going to be the same", Scott said Wednesday. Around $450 million will be used to keep students safe by adding bullet proof windows, steel doors and metal detectors.

Samsung Galaxy S9+ bags the top spot on DxOMark
It recently continued the trend and claimed that there were better-sounding smartphone speakers than HomePod. Quite simply it means the S9 now lets in more light than any other phone in the world.

Cavs suspend JR Smith due to 'detrimental conduct'
National Basketball Association fans woke up Friday morning to a peculiar story surrounding Cleveland Cavaliers J.R. Surprisingly, though, Smith hasn't anxious about losing his starting role since the Cavs first game of the season.