U.S. tariffs raise risk Canada will fall prey to foreign steel dumping

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After announcing tariffs on steel and aluminum imports, Trump reiterated over the weekend that he may now place levies on European cars, telling supporters at a rally that the countries of the EU have banded together "to screw the USA on trade".

Mr Trump said in a tweet on Saturday the United States was ready to drop its tariffs if the European Union lowered its "horrific" rates on U.S. products.

Fears of a trade war have driven price up to almost double in some cases in the United States, which means Lester will take a big hit for the next couple of years for projects alrealy in his pipeline.

The EU's top trade official has employed strong rhetoric as the row with US President Donald Trump over steel and aluminum tariffs heats up following fruitless talks.

Mexico recognizes the problem of global steel oversupply and will keep seeking solutions, but NAFTA talks shouldn't be subject to other domestic USA policies, the country's Economy Ministry said in a statement. But he exempted Canada and Mexico and held out the possibility of excluding other allies.

Shadow International Trade Secretary Barry Gardiner criticised Fox for taking 10 days to make a statement to the House of Commons following the Trump administration's announcement of tariffs.

She warned that no one could win a "race to the bottom" and said the tariffs could risk "hurting everyone".

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While that kind of talk makes agriculture very nervous, Mr. Trump said he is optimistic there will be a NAFTA deal, "I have a feeling we are going to make a deal on NAFTA".

The American administration has expressed a desire to get a NAFTA deal in a hurry and some prominent members have been suggesting that the threat of steel and aluminum tariffs might prod the negotiations along.

Joseph Galimberti says Canada has to work very quickly to identify possible attempts to circumvent the US tariffs by sneaking steel in through Canada and must be prepared to act to stop this.

The bloc does impose a 10 percent levy on US auto imports, while the USA charges a 25 percent levy on trucks and pick-ups, and up to 40 percent on some clothes, she said.

European steel and aluminum associations have warned that the US tariffs could cost their sectors thousands of jobs.

It was the second call in a week that Trudeau made to Trump on the tariffs issue.

'If they drop their horrific barriers & tariffs on USA products going in, we will likewise drop ours, ' he pledged in a tweet. Indeed, most European Union countries are in North Atlantic Treaty Organisation, the world's biggest security alliance, together with the United States.