Over 146,000 Americans will lose their jobs because of Trump’s trade tariffs

Over 146,000 Americans will lose their jobs because of Trump’s trade tariffs

The United States said on Thursday it would impose harsh tariffs on steel and aluminum imports from the European Union, Canada, Mexico at 0400 GMT on Friday - another move sure to anger Washington's trading partners.

And no matter what, American companies will still need to import steel and aluminum.

The statement added that Mexico has repeatedly indicated that these types of measures taken on national security grounds "are not appropriate or justified" and underscored that it is the biggest importer of United States aluminum and the second biggest purchaser of US steel. She said the tariffs were in violation of the rules of the World Trade Organization (WTO). "But we see no sign of that in this action today by the USA administration".

"If President Trump decides to treat Europe as an enemy, we will have no choice but to defend European industry, European jobs, European interests", he said.

The European Union isn't the only one hitting back at the USA as Mexico said it will "impose equivalent measures to various products" such as steel, lamps and a variety of food items including apples, grapes, pork and sausages.

The tariffs come as Group of Seven finance ministers including U.S. Treasury Secretary Steven Mnuchin and central bank governors prepare to meet in Whistler, Canada.

Ring called on Prime Minister Justin Trudeau to take "immediate and aggressive" measures to safeguard Canadian steel and its supply chain by applying reciprocal tariff and quota-based measures, also pushing for future tariff exemptions. "But hey, the decision was made, and we always said that we were going to be ready to react".

When asked if the US tariffs represented the beginning of a trade war, Trudeau responded that Canada will continue to put pressure on the USA and attempt to convince Trump that imposing the measures will put an undeniable strain on their relationship.

Trudeau is hosting this year's G-7 summit in early June and President Trump is expected to attend.

"But we see no sign of that in the US action today", he said, describing the tariffs as "a turning point in the Canada-US relationship".

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"The EU believes these unilateral US tariffs are unjustified and at odds with World Trade Organisation rules", Jean-Claude Juncker, President, European Commission, said on Thursday.

And even that is subject to change as the Trump administration continues to dangle relief on steel and aluminum tariffs in exchange for other concessions.

"Those talks are taking longer than we had hoped".

The organisation's director Gareth Stace said: "US steel consumers are already reporting price increases and supply chain disruption and with $500m of steel exported from the United Kingdom to the USA a year ago, United Kingdom steel producers are going to be hit hard". The European Union is ready to retaliate immediately following the tariffs. "The fact that we took a tariff action does not mean there can not be a negotiation".

The EU has vowed to hit back at the U.S. with tariffs on American goods, including iconic items such as Harley-Davidson motorbikes, blue jeans and bourbon whiskey.

Some countries - including Argentina, Australia, Brazil and South Korea - agreed to restrict exports of metals and were exempted, but Ross said the EU, Canada and Mexico were not there yet. Manfred Weber, a key ally of the German chancellor and leader of the biggest bloc in the European Parliament, accused the Trump administration of treating American allies as enemies.

Prime Minister Justin Trudeau has called the U.S. levies "totally unacceptable" and an "affront" to Canada, warning that a trade war would harm the economies of both countries.

The global response to the action was swift.

The EU's measures will target an as far undisclosed list of United States products "at a level that will reflect the damage caused by the new U.S. trade restrictions on EU products".

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