Published: Sun, March 11, 2018
Global | By Marsha Munoz

Mexico says NAFTA talks separate from Trump's tariffs policy

Mexico says NAFTA talks separate from Trump's tariffs policy

"He is committed to having a very fair and reciprocal military and trade relationship", Trump said on Twitter, referring to Turnbull.

Trump confirmed the exemption in an early Saturday morning call between the two leaders, Turnbull said.

U.S. President Donald Trump shows his signature on Section 232 Proclamations on Steel and Aluminum Imports in the Oval Office of the White House on March 8, 2018.

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Turnbull told a news conference in South Australia state his discussions with Trump included the ongoing threats from North Korea after the U.S. president opened the possibility of talks with North Korean leader Kim Jong-un. Trade wars are not won, they are only lost. While business experts and American lawmakers speculate that the move was meant mostly to disadvantage China, it has enraged key US allies like the European Union and Canada (the U.S.'s largest supplier of both materials). The major problem here being that Trump has a different idea of a "fair" NAFTA than both Canada and Mexico. "Over the next 12 to 24 months, getting the settings right on trade is going to be more important than ever", he said.

Ms Malmstrom told reporters the European Union was ready to complain to the World Trade Organisation, and retaliate within 90 days. U.S. Trade Representative Robert Lighthizer struck a relatively upbeat tone at a closing press conference in Mexico City, warning talks needed to move more quickly but saying he was open to "compromise" on U.S. proposals in hopes of getting an updated deal through the current Congress. Freeland said there was "good, solid progress" made in the recent round and that "a win-win-win deal" is within reach.

Brussels has reminded Trump that tit-for-tat trade measures deepened the Great Depression in the 1930s and in the 2000s cost thousands of U.S. jobs when Washington imposed tariffs on European steel.

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Other officials at the EU, by far the biggest trading partner of the USA by value, have warned it could take countermeasures including European tariffs on U.S. oranges, tobacco and bourbon.

The latest version of this law, adopted under Barack Obama in 2015, will expire in July of this year unless Trump requests an extension until 2021. China accounts for only a small fraction of United States steel imports, but its rapid rise to produce half the world's steel has helped create a global glut that has driven down prices.

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