White House expected to address Cohn departure, tariffs — WATCH LIVE

Beijing faces mounting pressure from the U.S. government to narrow its trade surplus.

Navarro says the tariffs would go into effect within 15 to 30 days.

President Donald Trump's plan to slap tariffs on imported steel and aluminum would barely budge the price of a Boeing Co jetliner or fighter plane, belying fears of a big blow to US industry, aerospace analysts said.

Additional details have yet to be released on the scope of the tariffs.

China warned Thursday it was ready to respond to US tariffs if they materialize. Imports rose 6.3 percent to $137.8 billion, down sharply from the previous month's 36.9 percent rate.

In the CBC interview, Trudeau said he and Trump share a common goal of boosting the economy and creating jobs. "But at the end of the day, people will farm out components and products offshore".

In the currency market, the Mexican peso and Canadian dollar recovered from their steep losses.

On a mid-sized 737, with a list price of $117.1 million, the cost increase could be less than $200,000, because airlines often receive discounts of 40 percent off list price, and Boeing's profit margin is about 10 percent. Since the 1970s, America's annual per capita consumption of steel has dropped by almost half, from 1,400 pounds on average to 740 pounds. "I thank him for that and he's been a good listener".

She said Brussels still hoped the EU would be excluded from the steel and aluminimum tax hikes but vowed to take proportionate action if Mr Trump presses ahead with his trade war.

In a tweet, Trump said his focus was China.

"We urge the administration to take this risk seriously", Donohue said.

"There is always retaliation, and typically a lot of these countries single out agriculture when they do that", Sen.

The fact that Canada might be hit with tariffs had actually become a leading talking point for critics bashing the Trump plan.

Malmstrom referred to Trump's national security reasoning as a "deeply unjust" pretext for tariffs.

Earlier this week, Mr. Trump upped the ante further by threatening to include Canada and Mexico in the tariffs until they agreed to a renegotiated NAFTA.

It has fared better than the S&P and Dow over the last week as the companies on that index are far more US-focused and would stand to lose less from a flare-up in global trade tensions. "We must act soon!"

With an expected increase in US steel demand, United States Steel Corp said it would restart one of two blast furnaces and steel-making facilities and rehire 500 employees at its Granite City, Illinois, plant.

Trump has floated the idea of a 25 per cent tariff on steel and a 10 per cent tariff on aluminum.

The EU said it was prepared to respond to any tariffs with counter-measures against U.S. products such as Harley-Davidson motorcycles, Levi's jeans and bourbon.

But the prime minister deemed the trip an overall success in terms of relationship building and $1 billion in bilateral investment. However, White House said that its northern neighbour would be exempted from such a new import tariff.

"Mr. President, I think we do need to be careful here", Senator Roy Blunt, a Missouri Republican, told Trump at a White House meeting that the press was allowed to attend.

Some other high-profile priorities could be increasingly shunted to the sidelines. "We're not trying to blow up the world". The announcement represents a reversal to Trump's previous pledge of imposing the tariffs without exceptions.

That question continued to guide Wall Street on Wednesday, leading stocks to a mixed finish after President Donald Trump's top economic adviser resigned after opposing the administration's planned tariffs on imports of steel and aluminium.

Lawmakers opposed to the tariffs, including House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell, have suggested more narrowly focused approaches to target Chinese imports.

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