Mexico to impose tariffs on $3B in U.S. products

by Garry Watts June 9, 2018, 20:27
Mexico to impose tariffs on $3B in U.S. products

Trump is expecting a knock-down, drag-out fight with top USA allies over trade during his time at the conference, held in remote Quebec.

Before departing for the G7 summit in Charlevoix, Que., the U.S., Trump called on the G7 leaders to let Russian Federation back in.

Even as late as Thursday afternoon, Trump was questioning why he would attend a G7 meeting where he's outnumbered on key issues like trade and climate change.

Also new is an ongoing US federal investigation into whether Trump's associates co-operated in Russia's efforts to sway the 2016 presidential election.

It has also been suggested that Mr Trump had not been keen to attend the summit at all, with expected criticism and his meeting with North Korean leader Kim Jong Un looming.

Trump's imposition of steel and aluminum tariffs, as well as broader disagreements on trade, climate change and the USA withdrawal from the Iran nuclear agreement, are setting the stage for some tense talks once Trump arrives Friday at the Quebec summit. "If it doesn't happen, we come out even better!" the president wrote on Twitter, hours before he's due to arrive in Quebec.

Expectations for a resolution of the trade row this week are low after finance leaders from the United States' G7 partners butted heads with U.S. Treasury Secretary Steven Mnuchin at a meeting last week in the Canadian resort town of Whistler, British Columbia.

At a joint press conference on Thursday, Macron said: "A trade war doesn't spare anyone". Then he pulled the US out of the Paris accord the following week.

"The American President may not mind being isolated, but neither do we mind signing a 6 country agreement if need be", Macron said in another tweet.

They also slapped tariffs on American goods from Levi Jeans and Harley Davidsons, to produce and metals.

As he prepared to travel to Canada, he ramped up his blast of Canada on Twitter this morning over what he says are unfair trade practices.

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"Please tell Prime Minister Trudeau and President Macron that they are charging the U.S. massive tariffs and create non-monetary barriers", he tweeted.

Trump was referring to the retaliatory tariffs Canada slapped on the US on a number of items totaling about $16.6 billion worth. "Look forward to seeing them tomorrow", Trump tweeted.

"Take down your tariffs & barriers or we will more than match you!"

"We are actually working on it", Trump clarified.

But they expressed support for the USA president's historic meeting in Singapore with North Korean leader Kim Jong Un, scheduled to take place early next week. Trump will skip the session on climate change.

But at the G7 summit in Canada, the physical bonhomie between the two leaders was pared back, signaling tensions that boiled over publicly just before the meeting.

Merkel said it was not clear whether the group would issue a final directive, adding that failure to do so would be an honest reflection of the lack of agreement among Canada, the United States, Japan, Britain, Italy, France and Germany.

Trump expanded the tariffs on steel and aluminum to the United Kingdom, Canada and the European Union on May 31 after extending exemptions in March.

Mr Trump saluted Canadian Mounties as he was greeted at an airport at a military base in Quebec.

"We have massive trade deficits with nearly every country".

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