Trudeau calls USA viewing Canada as national security threat 'simply ridiculous'


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Asked about how the measures affect relations with the United States and President Donald Trump, Trudeau said it marked "a bit of a turning point, but we've always known that this administration is unpredictable".

He says the United States has a $2 billion surplus on steel trade with Canada and both countries are on the same page when it comes to addressing oversupply of steel coming from China. In addition to Sen. The tariffs will take effect on July 1.

In March, he threatened to impose tariffs on Canadian and Mexican steel and aluminum exports to the USA unless those two countries ceded significant ground in the NAFTA talks.

"The U.S. has been ripped off by other countries for years on Trade, time to get smart!" According to the Alabama Department of Commerce, Canadian companies have invested more than $2.5 billion in Alabama since 1999, creating an estimated 5,700 jobs.

Meanwhile, negotiations with Canada and Mexico regarding the North American Free Trade Agreement are turning toxic as those countries weigh retaliation against Washington for the new steel and aluminium tariffs.

"We know there is a risk to employment but I think we'd like some time to have a discussion with the government about what kind of support is appropriate", he said.

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Trudeau later made clear he was in no hurry, telling legislators in the House of Commons that Ottawa wanted to carry out public consultations on the proposed retaliatory tariffs to make sure they were appropriate. It's when countries attack each other's trade with taxes and quotas.

The escalating trade war could lead to significant fallout for the oil market, although for now, the extent to which it impacts demand is unclear.

Trump used national security concerns to justify imposing tariffs, which Morneau has called "absurd". They are flimsily justified as an act of national security, but this is sheer nonsense. "They're our allies but they take advantage of us economically". "Highly restrictive on trade!" he wrote. Trump's latest notion to slap tariffs on German automobiles would be even more damaging geopolitically. "The result will be to undermine the long-term role of the dollar; ratchet up the public debt; and undermine the current expansion through a spiral of protectionist measures and rising uncertainties for business".

After the USA announced tariffs on Thursday, Canada responded with retaliatory tariffs, taking "the strongest trade action Canada has taken in the post-war era", according to Canadian Foreign Affairs Minister Chrystia Freeland, while Trudeau said "we have to believe that at some point their common sense will prevail". "Canadians have served alongside Americans in two world wars and in Korea".

What is worrying for the Trump administration is the fact that Canada, Mexico, the European Union and China are all retaliating and ceding very little ground.

Using the auto tariff as an example, The Wall Street Journal estimates that although a 25 percent tariff on US imports of automobiles and parts from all countries may create an additional 92,400 auto-related jobs in the United States, close to 300,000 jobs will be lost as the effect of the tariff ripples across the economy.