'Not backing down' on steel, aluminum tariffs
- Author: Leroy Wright Mar 09, 2018,
Mar 09, 2018, 23:05
U.S. President Donald Trump's boast that "trade wars are good" spells fighting words for Ron Bonnett. "We don't have exact details - it's too soon", said Rio Tinto Canada's manager of media relations, Claudine Gagnon.
But, Reynolds reiterated her opposition to withdrawing from NAFTA in her weekly news conference Monday morning.
Canada is now in talks to join the Pacific Alliance - a trade bloc including Mexico, Colombia, Peru, Chile, Singapore, Australia and New Zealand.
The poll of almost 50 foreign exchange strategists taken March 1-6 predicted that the loonie will climb to C$1.2700 to the greenback, or 78.74 USA cents, in one month, from around C$1.2875 on Tuesday. Massive relocation of companies and jobs.
He said Canada experienced a 200 percent increase in imports of American poultry-valued at $700 million-due to NAFTA and said the agreement has fostered "fair, balanced, open trade".
Canada has spent 200 years being America's best friend. Masswohl said overall, round seven had positive discussions and the hope is that progress will continue into round eight, to be held in the U.S.in early April.
A new complication has landed on the table over the past week: a heated dispute over steel and aluminum tariffs.
"We would have to target our response at the things they export that are most politically sensitive and hit exactly those goods".
As our economy grows through tax reform, we should focus on opening more markets around the world.
The AAC points instead to China for an overcapacity in the aluminum sector, reporting that it produces 54 per cent of the world's primary aluminum and 53 per cent of the fabricated aluminum, and that China's costs, partly subsidized, led to a "spiral of closures".
Also not boding well for future trade talks, Trump is promoting Peter Navarro, a protectionist who sees trade deficits as inherently evil, to presidential assistant. There are potentially up to 30 to conclude, including a newly announced energy chapter created to lock in Mexico's privatization reforms.
Canada is the No. 1 seller of both steel and aluminum to the U.S.
The European Union this week threatened retaliatory levies on politically sensitive US goods, and China last week sent an economic envoy seeking to clarify USA demands.
The EU prepared a $3.45 billion list of USA goods to be targeted in retaliation - including US steel and agricultural products like rice, orange juice and cranberries. American trade law requires a six-month consultation period with congressional committees as one of several processes before any final vote.
Such reports are "hair-on-fire rhetoric" emanating from "lobbyists, politicians and swamp creatures", the USA official said.
Shares in European vehicle makers traded lower on Monday after Trump suggested a tax on automobiles imported from Europe.