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Trump and his allies argue that America's trading partners - especially China - are taking advantage of the USA and that the tariffs will cause American companies to make more steel and aluminum here, creating jobs and boosting the economy.

Canadian officials said at a press conference that Canada would enact tariffs on $12.8 billion in United States exports, effective July 1, to retaliate against Trump's action.

Commerce Secretary Wilbur Ross said the tariffs - 25 per cent on imported steel and 10 per cent on aluminium - would take effect on Friday (local time). NAFTA renegotiations will be put in jeopardy by this move as well-the Trade Partnership estimates that withdrawal from NAFTA would cost the country a staggering 18 million jobs in the first year alone.

EU: Juncker said the bloc would move forward with tariffs on equal value to the steel and aluminium measures.

"We take the view that without a strong economy, you can not have strong national security", Ross said Thursday.

President Trump had announced the tariffs in March, saying they were necessary to protect the United States from unfair competition and bolster national security.

Trudeau fired back at the USA and Trump's "totally unacceptable" tariffs with $12.8 billion worth of their own tariffs on US imports into Canada on products ranging from yogurt to toilet paper.

Prasad warned that the United States was doing so at the cost of alienating key allies and undercutting broad global pressure on China to change its trade and economic practices. Trump said in a Twitter message.

"This is a bad day for world trade", he said.

India's top fuel retailer trims petrol, diesel prices
Amidst soaring fuel prices , Kerala government has made a decision to effect a reduction of Re 1 in petrol and diesel prices . Rates had yesterday touched an all time high of Rs 78.43 per litre for petrol and Rs 69.31 a litre for diesel in Delhi .

Canadian Prime Minister Justin Trudeau said: "These tariffs are totally unacceptable". All three affected parties had already said they would respond in kind, and Canada was the first to announce a slew of countermeasures.

Ottawa will also challenge the tariffs under NAFTA and World Trade Organisation rules, she said.

Brussels submitted a list to the WTO of USA products that could be slapped with punitive import duties.

Trudeau said the Trump move will hurt USA interests. "But we see no sign of that in this action today by the USA administration". Talks with the European Union made some progress, but not enough to warrant a permanent exemption or another temporary exemption, he said.

Automakers responded negatively to the Trump administration's first announcement of the duties in March and on Thursday the trade group that represents foreign-brand auto dealers echoed that sentiment.

She calls the US measures illegal and counterproductive. European Union officials previously informed the World Trade Organization of the bloc's plan to levy duties on $7.2 billion worth of US exports if the Trump administration proceeded with threats to impose a 25 percent tariff on steel imports and 10 percent on aluminum.

Ross himself heads to Beijing on Friday where he will attempt to get firm deals to export more United States goods in a bid to cut America's US$375 billion (S$502 billion) trade deficit with China.

The Mexican measures target pork legs, apples, grapes and cheeses as well as steel - products from US heartland states that supported Trump in the 2016 election. When asked about any concerns related to the G7, Trudeau said Canada would "continue to highlight that working together as friends and allies is extremely important for the prosper advertise process prosperity to each of our citizens".


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