Published: Tue, March 13, 2018
Sci-tech | By Brandy Patterson

Trump says he won't back down on tariffs plan; Ryan 'extremely worried'

Trump says he won't back down on tariffs plan; Ryan 'extremely worried'

The latest talks, which began in Mexico City last week, have been clouded by U.S. President Donald Trump's plan to impose tariffs on steel and aluminum imports.

"In spite of recent moves made by the United States to impose tariffs on steel and aluminium products - a black day for the world and business - elsewhere we do observe buoyant economic conditions underpinned by the growth of free trade outside the US", Mr Mackenzie said. The president bolstered that theory by tweeting on Monday that Canada and Mexico could duck the tariffs only if the US gets a "new & fair" trade deal. Republicans have been hard pressed to support Mr. Trump's import tariffs, which many argue could have negative impacts on the USA economy. Knowing the USA ultimately has as much or more to lose, Canada is unlikely to be bullied into making serious concessions at the NAFTA table to avoid Trump's tariffs. "Massive relocation of companies & jobs", Trump wrote.

"These proposed tariffs on steel and aluminum imports couldn't come at a worse time", said AIADA President and CEO Cody Lusk in the statement.

"Canada must. treat our farmers much better", he said. "Highly restrictive. Mexico must do much more on stopping drugs from pouring into the U.S". "We're going to take care of it", he said.

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Donald Trump last week fired the first round of shots in a potential trade war when his tweet blamed the country's trading partners for its $800 billion annual trade deficit.

Earlier on Monday, Ryan's office blasted out a CNBC article that linked a drop in the markets to Trump's planned tariffs.

REPORTER: "How about a trade war? For many years, NAFTA's been a disaster".

Trump is holding firm on his threat to slap tariffs of 25 per cent on steel and 10 per cent on aluminum.

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Trump said the European Union has "trade barriers far worse than tariffs", and again threatened to "tax their cars" if they go through with their response.

Trump hopes the imposition of tariffs will help him to bring back jobs to the U.S. which he alleged to have been stolen by other countries that acted unfairly.

That's why legislators from USA states that export agricultural products are deeply concerned with Trump's action. He has vowed to use whatever tools necessary to change this, but many economists and others warn that tariffs and protectionist policies could hurt the overall USA economy.

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