President Trump threatens to impose tariffs on cars imported from the EU

US says time running short for NAFTA talks, floats bilateral deals

Trump is expected to sign a formal order for the tariffs in the coming week or the following week at the latest, after all legalities are finalized, Navarro said.

May's office says she "raised our deep concern at the president's forthcoming announcement on steel and aluminum tariffs, noting that multilateral action was the only way to resolve the problem of global overcapacity".

Democratic senators in Pennsylvania and Ohio - America's Rust Belt where thousands of manufacturing jobs have been lost in recent decades - applauded the impending tariffs.

"When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win". For developers of solar-panel farms, steel is used for poles and racking. His words sent U.S. -based producers rallying but could hurt companies that ship steel and aluminum from Canada, including Rio Tinto Group and Stelco Holdings Inc., without an exemption.

Despite the Mr Trump's and Mr Navarro's comments, the president has shown in his tumultuous first year in the White House he can swiftly change his mind on major issues. CEO Mike Bless said that a mix of tariffs and quotas would allow the company to bring back 350 jobs and 150,000 metric tons of annual production.

The US president - in his usual form - has also been unafraid to take swipes at Theresa May on Twitter (albeit the wrong Theresa May).

Mr Navarro said the tariffs were necessary for America's steel and aluminium industries to survive.

To apply these tariffs, the invoking a rarely used clause in a 1962 trade law that allows the president to declare tariffs if required by national security.

"We will put tariffs on Harley-Davidson, on bourbon and on blue jeans - Levi's", European Commission President Jean-Claude Juncker told German television.

And demand for metallurgical coal - used in steelmaking - may see a double-digit percentage increase if Trump's tariffs succeed in boosting U.S. steel output to at least 80 percent of capacity, said Clarksons Platou Securities analyst Jeremy Sussman.

The Conservative leader said firms would understand that the sums of money involved and the importance of financial stability meant a deal would be struck "on the basis of recognised regulatory standards". If Canada is not excluded, it will be important for the Trudeau government to act fast to show Trump there will be serious costs to U.S. consumers.

"We are watching this matter closely", Hershey spokesman Jeff Beckman said in an email.

That kind of dollar strength makes the economy weak. Never mind that the top four steel exporters to the U.S. are our neighbors (Canada at No. 1; and Mexico, No. 4) and allies Brazil and South Korea. "Aluminum wheels, for example, and beverage cans and all these kinds of things are going to be addressed by the tariff".

Safeguard measures, last deployed by Europe in 2002 after then US President George W Bush imposed steel import duties, would be designed to guard against steel and aluminium being diverted to Europe from elsewhere if US tariffs come in.

Trump is nearly alone now. "Trump totally dominates the discussion, leaving the prime minister with five or 10 seconds to speak before he interrupts and launches into another monologue", the insider told Bloomberg.

"We held frank conversations", a White House spokeswoman said.

The protectionist policy will be made official in the next two weeks, White House officials said Sunday, as the administration defended the decision from critics in Washington and overseas.

China, which Trump frequently accuses of unfair trade practices, earlier called for restraint.

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