Canada taking nothing for granted about tariff exemption -source

EU targets $3.5 billion of US imports for trade retaliation

South Korea has already complained to the World Trade Organisation over five steel anti-dumping duties and countervailing measures imposed by the United States.

US Commerce Secretary Wilbur Ross said companies were over-reacting, but Mr Alden says the economic costs will be serious.

Though only 5 percent of German steel exports go to the U.S., he warned of a knock-on effect that would stoke "protectionism worldwide". The automaker says that it expects the new import duties to substantially increase its costs, which would then be passed on to buyers in the form of higher sticker prices. "The EU has to show its strength".

He said a 10 percent tariff on aluminum would add one cent to the cost of a can of beer, $45 to a car and $20,000 to a Boeing 727 Dreamliner.

"We are here and they will get to know us".

"I can see them deciding that it's appropriate to cause trouble for us with allies", said William Reinsch, the Scholl Chair in International Business at the Center for Strategic and International Studies.

"I don't think Canadians feel they are being singled out", he said, noting Trump's diatribes against Mexico, China and Germany. China is the eleventh largest steel exporter to US. "IF YOU DON'T HAVE STEEL, YOU DON'T HAVE A COUNTRY!" he wrote. A curb on purchases could hurt farm state voters who supported Trump.

One organization born from the postwar order issued a rare public warning Friday: the World Trade Organization expressed concern about the prospect of escalation, and a damaging global trade war.

The Wall Street Journal said that such a move by Trump has "sparked worries" of a looming global trade war.

"This is going to scare markets, but it's not going to scare the Chinese government", Posen said.

The markets slid sharply Thursday after President Donald Trump announced he would impose 25-percent steel tariffs and 10-percent aluminum tariffs as early as next week. It's not the only local business grappling with uncertainty.

Other rebukes delivered on Friday suggested that some countries were prepared to retaliate if necessary.

NEXT: Candice Malcolm of the True North Report joins me to talk about Trudeau's Minister for Public Safety, Ralph Goodale, running away from reporters asking how a convicted terrorist got invited to one of the prime minister's official dinners in India. Protectionists want to protect U.S. industries from foreign competition by taxing imports. But long time trends suggests that the picture is more complex. "There's a healthy solar manufacturing ecosystem here in the U.S.", Ross Hopper said.

"The impact on total corporate earnings first would be driven by the impact on the economy", said Keith Parker, U.S. equity strategist for UBS (LSE: 0QNR.L - news) in New York.

"China is the main target of possible tough new United States trade measures against low-priced imports of steel and aluminum".

"It's been a crazy 36 hours or so", Paul said.

But there was opposition building here at home, including among some Republicans. That would slow U.S. exports.

"There's too much at stake", he said. The Nikkei index .N225 tumbled 2.5 percent in Tokyo and the Hang Seng index .HSI fell 1.5 percent in Hong Kong.

Europe has drawn up a list of US products on which to apply tariffs if Trump follows through on his plan. U.S. agriculture could also take a hit. Canada and Bahrain could be the top losers, should they get caught in Trump's net, according to Managing Director Marie Diron.

According to the Commerce Department, U.S. steel employment has dropped more than a third in the last two decades, while aluminum jobs shrank nearly 60 percent between 2013 and 2016.

Ferraro is head of Melbourne-based Alumina Ltd., a producer of alumina and bauxite.

"That makes China the more vulnerable partner in this", said Kuijs.

But a unilateral action like this could set off a full-blown trade war.

Nouvelles connexes:

Nouvelles chaudes

isis-killer-beheading-video-story-top Toyota: US tariffs will 'substantially' increase car prices
Mar 03, 2018 - 03:52
The list and the other possible measures will be discussed at the next commissioners meeting, on Wednesday (7 March). Sarah Huckabee Sanders said Friday that the "president is still focused on long term economic fundamentals".

isis-killer-beheading-video-story-top Ice Hockey: Russia v Germany for gold, who would have thought?
Fév 25, 2018 - 18:19
They have been on a tear since dropping their first game of the Olympics to Slovakia, outscoring their next four opponents 21-3. Sweden, skipped by Niklas Edin, proved it was one of the top teams in the Olympic field early in round robin play.

isis-killer-beheading-video-story-top Shooting survivors become advocates for stronger gun laws
Fév 25, 2018 - 13:18
Being pro-active matters, she added. "He seemed to be doing better", Mr Lewis said. "We will make this a top priority". Cruz also had been expelled from the high school for an undisclosed reason, Broward County Sheriff Scott Israel said.

isis-killer-beheading-video-story-top Dominique Bussereau quitte Les Républicains — Affaire Wauquiez
Fév 22, 2018 - 00:56
C'est une très bonne chose car on préfère nettement être jugé par la justice que par Laurent Wauquiez . Ensuite, je ne l'ai pas laissé en placer une ", se serait vanté l'ancien président à ses proches.

isis-killer-beheading-video-story-top Thiago Motta : "On est unis et on soutient l'entraîneur"
Fév 18, 2018 - 02:24
Elles ont beaucoup plus de possession de balle qu'elles n'en ont eu sur ce match. Et pas seulement parce que c'était la Saint Valentin.

isis-killer-beheading-video-story-top Arsene Wenger cautious over comparing Pierre-Emerick Aubameyang with Thierry Henry
Fév 16, 2018 - 05:39
Wenger seems delighted with the way his new signing has begun, Mirror reported. "The gap is not massive but it will be tough". It comes as no surprise that Henrikh Mkhitaryan and Jose Mourinho didn't have the greatest relationship.

isis-killer-beheading-video-story-top Ici, c'est Madrid — Ligue des Champions
Fév 15, 2018 - 23:55
Mais pour " Zizou ", la qualification n'est pas encore assurée: " Il faut penser au retour, car ce sera un autre match . Alors que la presse française est déçue mais pas abattue, les journaux madrilènes ont mis en avant Cristiano Ronaldo .

isis-killer-beheading-video-story-top Baccalauréat 2021 : en terminale, 3 écrits et un grand oral
Fév 15, 2018 - 21:47
C'est le sens des deux épreuves écrites qui seront organisées nationalement au printemps, avant ou après les vacances de Pâques. Ils devront passer un test de positionnement en français et en mathématiques afin d'évaluer leurs compétences.

isis-killer-beheading-video-story-top Why Arsenal's January Transfers Won't Ensure Top-Four Premier League Finish
Fév 15, 2018 - 10:52
Languishing in sixth place in the Premier League , Wenger's side are however just four points behind fifth placed Tottenham . All three can play intricate passing combinations, but the graphic below shows how each offer variations in range.

isis-killer-beheading-video-story-top Local African immigrants respond to president's comment
Fév 10, 2018 - 19:20
Don't get all upset, don't start criticizing, yelling. "There is no other word you can use but 'racist'". He reiterated his call for ending chain migration and the lottery route to immigration.

isis-killer-beheading-video-story-top Profite d'un rebond après l'envolée des indices US — Marché
Fév 10, 2018 - 01:27
À Paris, le CAC 40 gagne 0,4% à 5.182,47 points vers 09h00 GMT, après quatre séances de baisse qui l'ont fait reculer de 5,75%. Il n'y a pas de véritables catalyseurs particuliers à l'origine de la baisse de 4 % du S & P 500 hier.

isis-killer-beheading-video-story-top Here's Trump's Next Move On House Intel Democrats' FISA Memo
Fév 09, 2018 - 09:20
Democrats desperately tried to prevent the Nunes memo's release then mocked its contents when the suppression effort failed. Trump tweeted that Schiff is "one of the biggest liars and leakers in Washington" and "must be stopped".

isis-killer-beheading-video-story-top Dow again as much as nearly 25000 after main slide
Fév 09, 2018 - 06:35
Advancing issues outnumbered declining ones on the NYSE by a 1.71-to-1 ratio; on Nasdaq, a 1.33-to-1 ratio favoured advancers. On Tuesday, Facebook fell to 177.75 intraday, but rebounded to close up 2.2% at 185.31 in Tuesday's stock market trading .

isis-killer-beheading-video-story-top Rooney tips Kane to leave Spurs
Fév 08, 2018 - 01:13
Mauricio Pochettino congratulated Moss on his performance, saying the match officials "were right in every single decision. I said, 'I'm gonna prove to you that I should be starting on this team".

isis-killer-beheading-video-story-top Biggest Value Dive in Six Years — Wall Street Plunge
Fév 07, 2018 - 17:17
Talking to reporters aboard Air Force One, White House Deputy Press Secretary Raj Shah downplayed the sudden Dow drop . What happened in the US? . "If it now takes hold and gets out of control, central banks will be forced into action".