X

New Tariffs on US Allies Called 'Dangerous'

The EU, Canada, and Mexico get hit
By Newser Editors and Wire Services
Posted May 31, 2018 10:15 AM CDT
French Finance Minister Bruno Le Maire, left, welcomes US Secretary of Commerce Wilbur Ross in Paris on Thursday.   (AP Photo/Francois Mori)
camera-icon View 1 more image

(Newser) – The delay is over. The Trump administration is announcing tariffs on steel and aluminum imports from the European Union, Canada, and Mexico, in a move sure to raise worries of a trade war. Commerce Secretary Wilbur Ross says there will be a 25% tariff on imported steel and a 10% tariff on imported aluminum, reports the AP. President Trump announced the tariffs in March but the US granted exemptions to the EU, Canada, Mexico, and other US allies. Ross says talks with Canada and Mexico over the North American Free Trade Agreement are "taking longer than we had hoped." He says negotiations with Europe have "made some progress" but not enough to merit an exemption.

Ahead of Thursday's move, German Chancellor Angela Merkel said the 28-nation bloc would respond "in an intelligent, decisive, and joint way" after making plain to Washington its view that the tariffs are incompatible with World Trade Organization rules. German Foreign Minister Heiko Maas said "protectionism and isolation against free trade mustn't regain the upper hand," while French Finance Minister Bruno Le Maire called the tariffs "unjustified, unjustifiable, and dangerous," noting a trade war would hurt growth everywhere. Also in advance of Ross' announcement, Global News reported Canada had drawn up a list of possible US targets to hit in response. (Read more tariffs stories.)

My Take on This Story
Show results without voting  |  
3%
7%
16%
13%
32%
30%