Money Trump threatens auto tariffs if trade talks fail

08:46  11 august  2018
08:46  11 august  2018 Source:   msn.com

Trump administration ups ante in trade fight with China

  Trump administration ups ante in trade fight with China U.S. now considering slapping a 25 percent tariff on hundreds of billions in Chinese imports, ratcheting up tensionsThe U.S. has already imposed 25 percent tariffs on $34 billion in Chinese imports and is readying 25 percent tariffs on another $16 billion worth to punish China for allegedly using predatory tactics to obtain U.S. technology. The Chinese have retaliated in kind.

U.S. President Donald Trump launched a fresh auto - tariff threat against Canada late Friday at a time when Ottawa finds itself in a holding pattern on NAFTA negotiations as it awaits the completion of one-on-one talks between the United States and Mexico.

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OTTAWA - Donald Trump launched a fresh auto-tariff threat against Canada late Friday at a time when Ottawa finds itself in a holding pattern on NAFTA negotiations as it awaits the completion of one-on-one talks between the United States and Mexico.

In a tweet that appeared to reference NAFTA's renegotiation, the U.S. president said the "deal with Mexico is coming along nicely" and that "Canada must wait."

Trump then sent a warning to Ottawa: "Their Tariffs and Trade Barriers are far too high. Will tax cars if we can't make a deal!"

Bilateral NAFTA negotiations between the U.S. and Mexico have been building momentum in recent weeks after taking a break in late May ahead of Mexico's July presidential election. The one-on-one talks are expected to extend into next week.

Donald Trump suggests U.S. is freezing out Canada in NAFTA talks

  Donald Trump suggests U.S. is freezing out Canada in NAFTA talks Donald Trump suggests U.S. is freezing out Canada in NAFTA talksWASHINGTON — U. S. President Donald Trump suggested Thursday that the U.S. is pointedly freezing out Canada from North American Free Trade Agreement negotiations.

Trump has announced tariffs of up to 0 billion on Chinese goods over U.S. complaints of Beijing’s trade practices and its alleged theft of U.S Earlier on Saturday, Trump told reporters it would be “very easy” to make the case for tariffs on auto imports using the rationale that they threaten national

“While we understand that the administration is working to achieve a level playing field, tariffs are not the right approach,” said a statement from the Auto Alliance, a U.S.-based trade group of leading global manufactures. Trump first threatened tariffs on imported European automobiles in March.

Canada, however, has yet to return to the NAFTA table this summer.

Some observers have raised concerns about Canada's absence from recent high-level negotiations on the three-country trade deal. There have been warnings Canada could be put in a position where it might have to accept a deal reached between the U.S. and Mexico.

But Canadian officials have insisted Ottawa hasn't been sidelined during the U.S.-Mexico discussions, arguing there have been lots of bilateral talks between NAFTA partners during the year-long renegotiation process.

To complicate matters, the already rocky Canada-U.S. relationship has deteriorated since the partners suspended talks in the spring.

Trump slapped Canada and other allies with steel and aluminum duties, which led to retaliatory levies from Ottawa. He has also made repeated threats to apply far more damaging tariffs on the deeply integrated automotive sector. And in June, Trump called Prime Minister Justin Trudeau very dishonest and weak” shortly after he left the G7 meeting in Quebec.

Feds prepping response to any auto tariffs

  Feds prepping response to any auto tariffs OTTAWA - With threats of devastating U.S. tariffs hanging over the auto sector, Canada's economic development minister says Ottawa is considering every possible way it could respond if the Trump administration follows through on its warning. Navdeep Bains said Plan A is to continue encouraging the U.S. to back away from the tariff threat, which industry has warned would inflict significant damage on both countries' economies. But just in case they are applied, Bains said Ottawa is considering "every conceivable option.""We're taking nothing off the table at this stage," Bains said in an interview. "We're looking at every tool in our toolbox.

Trump ’s tariffs likely to fail under global anger – Nobel Prize-winning economist. US President Donald Trump recently threatened to hit imports of European cars with a 20 percent tariff if Brussels doesn’t remove levies and other trade barriers on US goods.

Earlier on Saturday, Trump told reporters it would be "very easy" to make the case for tariffs on auto imports using the rationale that they threaten national security. A failed man who is appreciated by deplorables.

On Friday, his critical tweet about Canada made a point of praising Mexico's president-elect Andres Manuel Lopez Obrador.

"New President of Mexico has been an absolute gentleman," tweeted Trump, who also wrote that autoworkers and farmers "must be taken care of or there will be no deal."

Earlier Friday, a source familiar with Ottawa’s NAFTA effort said Canadian negotiators would not be returning to the bargaining table in Washington until the U.S. and Mexico find common ground on their outstanding issues, especially the complex sticking points around the auto sector.

If the U.S. and Mexico can resolve their bilateral differences in the coming days, the source said it's “very possible” Canada's team — potentially including Foreign Affairs Minister Chrystia Freeland — could rejoin negotiations later in the week.

Media reports said Friday's NAFTA discussions between U.S. Trade Representative Robert Lighthizer and Mexican Economy Minister Ildefonso Guajardo ended with bilateral work still to be done. On his way out of the meeting, reports said Guajardo indicated the two sides have made progress and will meet again next week to continue their talks for a fourth straight week.

Canada's exports of goods to U.S. hit record in June

  Canada's exports of goods to U.S. hit record in June Higher shipments of passenger cars and lights trucks south of the border helped drive up Canadian exports to the United States by 2.5 per cent in June to a record $37.1 billion, Statistics Canada reported Friday. The federal agency said imports from the United States edged up 0.3 per cent in June to $32.9 billion. As a result, Canada's trade surplus with the United States widened from $3.3 billion in May to $4.1 billion. The record mark for exports to the United States comes at a time of friction in global trade.

President Donald Trump said Saturday the U.S. wouldn’t endorse the final communiqué of the Group of Seven industrial nations summit and threatened to impose auto tariffs in a statement on Twitter in which he insulted the Canadian prime minister.

An angry Donald Trump escalated the trade fight with Beijing late Monday (June 18). He's now threatened to slap his largest tariffs yet on Chinese goods, to the tune of 0 billion worth of products. Tensions have risen since recent talks failed to deal with U.S. complaints of trade abuse.

“We continue to be in the same position where Mexico and the U.S. need to continue to work out their issues,” said the Canadian source, who spoke on condition of anonymity because they weren't authorized to speak publicly about the matter.

“The next obvious question is, do we have a firm date of Canada physically going to join the talks? And the answer is no, as long as the U.S. and Mexico have not resolved their issues, specifically auto.”

The source added that Freeland and David MacNaughton, Canada's ambassador to the U.S., remain in regular contact with relevant officials from the U.S. and Mexico.

The U.S. and Mexican governments have both expressed optimism the entire NAFTA deal could be concluded before the end of the month.

MacNaughton said in an interview last week that predictions NAFTA can be settled by the end of August are “aspirational.” However, he added that he supports the effort and that Canadian negotiators are ready to work long hours to help make it happen.

Once Canada returns to the talks, the continental partners are expected to shift their focus to other tough, unresolved issues.

MacNaughton has listed some of those stubborn areas. He said they include dispute resolution, agriculture issues, intellectual property, government procurement, the proposed inclusion of a five-year sunset clause and the de minimis threshold, which is the maximum value of an item that Canadians can order from a foreign country without paying duties or taxes.

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China announces $60B of US goods for tariff retaliation .
BEIJING - China said Friday it is poised to impose retaliatory tariffs on $60 billion worth of U.S. imports, including coffee, honey and industrial chemicals, if Washington goes ahead with its latest trade threat. China's Finance Ministry accused the Trump administration of damaging the global economy after the U.S. proposed increasing duties on $200 billion of Chinese goods in the second round of a dispute over technology. "China is forced to take BEIJING - China said Friday it is poised to impose retaliatory tariffs on $60 billion worth of U.S. imports, including coffee, honey and industrial chemicals, if Washington goes ahead with its latest trade threat.

Source: http://ca.pressfrom.com/news/money/-87500-trump-threatens-auto-tariffs-if-trade-talks-fail/

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