Aluminum and steel users disappointed with imposition of hefty USA tariffs

Canada's Justin Trudeau says NAFTA talks broke down after Pence made ultimatum

"We need trade policies that are fair to American workers, environmentally sound, and good for American business, but starting a trade war with our closest allies is the worst thing we could do".

The initial tariffs were announced in March after President said that the U.S. had been unfairly treated in trade with its neighboring and oversees partners. "Congress can not sit idly by as Donald Trump continues to isolate the United States and cede leadership to Russian Federation and China on the global stage". EU members have given broad support to a European Commission plan to set duties on 2.8 billion euros ($3.4 billion) of USA exports if Washington ends tariff exemptions.

The lesson to be learned by Canadian industry is that the disputes aren't about fact, subsidy or national security, said Susan Yurkovich, president of the BC Lumber Trade Council.

"The US measures are a protectionist intervention in worldwide trade and run counter to the principles of the World Trade Organization", the body said in a statement, сalling for a swift WTO decision on challenges to the tariffs.

US Secretary of Commerce Wilbur Ross said there was "no longer a very precise date when they may be concluded", and that as a result, Canada and Mexico were hit with tariffs. "They report a really high surplus on trade with us", he wrote. Trump's tariffs and the retaliation by other countries, both threatened and enacted, meet this definition.

A list of countermeasures would include tariffs on US metals and food products such as yogurt, pizza and cucumbers, as well as household products like mattresses and refrigerators.

But in the case of Canada and Mexico, he said the decision was based on making progress in the ongoing North American Free Trade Agreement talks, and there is no resolution in sight.

"The most likely outcome ... could be protracted negotiations during which both the United States and the European Union lock horns but do not take ever more dramatic headline-grabbing protectionist steps", Schmieding said.

The two sources said an announcement was planned for Thursday morning in Washington but that the timing could still change.

While the USA administration's decision to hit its European and North American allies with the metals tariffs was not aimed directly at China, it also sets the background for negotiations with Beijing, where Ross was headed on Friday for talks.

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Malmstrom said over-production from China, not Europe, was to blame for the glut of steel that prompted the USA action.

"But as the CBI have said, we do not want a trade war which does more to harm United Kingdom industries and consumers".

"Everyone expressed their complete incomprehension of the American decisions and everyone said it was up to the Americans to take the next step since they were the ones who imposed the tariffs".

Bruno Le Maire, France's minister of the economy and finance, said the USA tariffs are "unjustified, unjustifiable and unsafe".

The defence industry in both countries are easily among some of the world's largest steel and aluminum consumers; indeed, it was hard to find a spot on the convention floor where a firm wasn't showing off a tank or ship made of steel or a plane made of aluminum.

Meanwhile, the OECD says threatened new trade barriers and rising oil prices could hurt long-awaited global economic growth.

The World Trade Organisation's former chief, Pascal Lamy, also said the damage would likely be limited in concrete terms.

"I think there was a comment out there that (this was) the G6 plus one".

"Our steel and aluminium industries are hugely important to the United Kingdom, but they also contribute to U.S. industry including in defence projects which bolster USA national security", she said.

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