Thursday, 15 November, 2018

Mazda joins Toyota in condemning Trump's car-tariff plans

Going too far? Trudeau’s overly liberal course might do him a disservice Reuters
Steven Clarke | 01 July, 2018, 11:16

She is also expected to reveal the details of the federal government's plan to support Canada's tariff-targeted steel and aluminum industries.

Foreign Minister Chrystia Freeland will make an announcement in the steel city of Hamilton at 11 a.m. ET (1500 GMT) on Friday. Trudeau updated the president on Canada's tariffs on us imports, according to the readout, which also said the two leaders discussed "the North American Free Trade negotiations and agreed to continue working toward a mutually beneficial outcome".

"They will take effect on July 1 and will remain in place until the United States eliminates its trade-restrictive measures against Canada".

While opposition parties have so far largely backed Prime Minister Justin Trudeau for standing up to Trump, their support could be tested once the US tariffs start to bite.

He added Thursday that his reaction was also prompted in part by the president's recent remarks about Mr. Trudeau, who Mr. Trump called "weak" and "dishonest" as the trade dispute intensified weeks earlier.

Ottawa also announced 2 billion Canadian dollars ($1.5 billion) in aid for Canadian steel and aluminum industries and workers hurt by U.S. metals tariffs announced in March and imposed on Canada on June 1.

"The two leaders agreed to stay in close touch on a way forward".

Meanwhile, asked about reports that Stephen Harper will meet senior US officials in Washington next week, Ms. Freeland said the former prime minister did a good job defending Canada on USA television earlier this month and that she wished him well in all his endeavours.

She also repeated that Trump's decision to invoke national security to justify the USA tariffs on steel and aluminum imports was "insulting" to Canadian veterans who had stood by their USA allies in conflicts dating back to World War I. The U.S. now charges a 2.5% tariff on European Union cars, while the EU's tariff on American vehicles is 10%.

The annual conference presents Canadian politicians and business leaders with an opportunity to engage with their USA counterparts - particularly those who share the same opinion on the tariffs, and understand that the Canadian and US economies are intrinsically linked, Bilous said.

Uruguay knockout Portugal from World Cup
An Edinson Cavani double helped fire Uruguay into the World Cup quarter finals at the expense of Cristiano Ronaldo's Portugal . Cavani now has three goals at the World Cup , but limped off in the 70th minute with an apparent injury and had to be replaced.

Freeland said Canada is prepared if US President Donald Trump escalates the trade war. "But I just think, on a principled stand, I have real difficulties with the way the Americans are treating our country and our people and our government". "I think all of us, at this point, fully anticipate there will be some moments of drama in the future".

A USA auto industry group, which represents 12 carmakers including Ford, General Motors and Fiat Chrysler, said on Thursday that proposed tariffs on auto imports would harm USA economic security. The situation means it's now a top priority for stalled NAFTA talks to get moving as soon as possible, he said.

Because the tariffs would inject "uncertainty" into the US economy, the "total shock" could be twice as large, the Oxford analysts wrote.

The two countries, with Mexico, are also locked in negotiations over the North American Free Trade Agreement.

"What we've seen over the last six months or so is Canada take measures to stop that", he said.

About 6,000 jobs in Canada are at risk due to the USA tariffs, the CD Howe Institute has estimated.

"Toyota shares the Administration's goals of increasing U.S.jobs, growing the economy and strengthening national security", the automaker said. It's a tit-for-tat response to the tariffs slapped on $16.6 billion worth of Canadian steel and aluminum products by the Trump administration. The move helped upend one of the world's most important trading relationships and soured ties between Ottawa and Washington. But trade between the province and the U.S.is mutually beneficial, he said.

Trudeau announced Canada's intention to retaliate against Trump's tariffs at the end of May. "There's no reason why we shouldn't continue to work closely together to grow our own and each other's economies".

The penalties will add 25 per cent to the cost of U.S. steel, and 10 per cent to aluminium and consumer goods.

The U.S. automaker warned that an escalating trade war could backfire and lead to "less investment, fewer jobs and lower wages".

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