Trump's global trade war

A steel factory in Germany

The minister says she doesn't believe the tariffs will alter the government's plan to purchase new military gear from the USA because extra money is typically set aside for unexpected circumstances.

In March, Trump imposed a 25% tariff on steel imports and a 10% tariff on aluminium, but granted temporary exemptions to the EU, Canada, Mexico, Brazil, Australia and Argentina.

"We continue to be quite willing and indeed eager to have further discussions", Ross added. "We are awaiting their reaction".

UK Steel said the tariffs will "see damage not only to the UK steel sector, but also the USA economy". "But we see no sign of that in this action today by the USA administration".

While shares of Canadian steel firms headed lower, their US counterparts got an initial boost before giving back some of their initial gains.

President Trump had announced the tariffs in March, but gave several US allies temporary exemptions while they negotiated potential limits on shipments to the United States.

"There is potential flexibility going forward", Ross said.

In response, European Union chief Juncker said the U.S. tariffs decision leaves the bloc with "no choice" but to impose counter-measures and pursue a case in the World Trade Organisation.

Meantime, Canadian producers are mired in uncertainty, said Tony Kafato, president of Toronto-based Venture Steel, which processes carbon steel and aluminum for the auto industry and other customers. Earlier this week, there were reports that the talks might be canceled following Trump's renewed threat to impose import taxes on $50 billion in Chinese products.

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The Tennessee Highway Patrol and Virginia State Police will have more troopers on the roads for the holiday. Gas prices are rising, but not enough to keep New Mexicans from hitting the road this holiday weekend.

The announcement was made by Commerce Secretary Wilbur Ross.

In late April, Trump delayed the tariffs until June 1 to allow space for trade negotiations, which proved fruitless. It did not announce details, but the bloc has previously threatened 25% tariffs on U.S. products such as motorcycles, denim, cigarettes, cranberry juice and peanut butter.

"The steel and aluminum tariffs will have a poisonous effect on the NAFTA negotiations", Alden said.

"The responsibility falls exclusively on to U.S. authorities", Le Maire said.

"As to Canada, Mexico, you will recall that the reason for the deferral had been pending the outcome of the NAFTA talks", he said.

Prime Minister Justin Trudeau and Minister of Foreign Affairs Chrystia Freeland are scheduled to speak to reporters in Ottawa at 1:30 p.m. ET Thursday.

The United States' launch of a tariff probe into vehicle imports last week was also seen as a move created to pressure its NAFTA partners in negotiations that have been contentious on issues including rules of origin and wages as they apply to the automotive sector. The action was mainly targeted at China over accusations of flooding the global market with cut-rate metals and dragging down prices.

The statement reiterated Mexico's openness to constructive dialogue with the United States, its support of global trade and its disapproval of unilateral protectionist measures.

The E.U. shares many of Washington's concerns about China's efforts to acquire advanced technology through compulsory licensing practices, cybertheft and other measures.

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