EU to impose measures against 'unacceptable' US metal tariffs


READ MORE

The European Union (EU) will impose “counter-balancing measures” after the United States announced tariffs on steel and aluminium imports from the Canada, Mexico and the EU, the European Commission chief said.   


The tariffs, which take effect from midnight on Friday, will end a two-month exemption for the key US allies.


They include a 25 percent tariff on steel imports and a 10 percent tariff on aluminium imports. 


During a speech in Brussels, Jean-Claude Juncker, president of the European Commission, promised to announce retaliatory sanctions later on Thursday. 


“This is a bad day for world trade,” he said. “We will immediately introduce a settlement dispute with the World Trade Organisation (WTO) and will announce counter-balancing measures in the coming hours,” he added. 


“It is totally unacceptable that a country is imposing unilateral measures when it comes to world trade.”


German Chancellor Angela Merkel said the EU response will be “intelligent, decisive and joint,” adding that the tariffs are incompatible with WTO rules.


On Twitter, Manfred Weber, the leader of the European People’s Party in the European Parliament said Europe had “no choice” but to defend itself.


“We will not accept this highly regrettable decision without reacting,” he said.



Mexico has also announced retaliatory tariffs on US imports including pork bellies, apples, grapes, cheese and flat steel, according to a statement from Mexico’s Economy Ministry.


The statement criticised the US use of a national security justification as “improper” and said the tariffs will affect key US industries, including the automotive, aerospace and electronics sectors.


Before the tariffs were announced, Canadian Foreign Minister Chrystia Freeland said the Canadian government would take steps to protect jobs and industry, calling the US justification “frankly absurd”.


“The government is absolutely prepared to and will defend Canadian industries and Canadian jobs. We will respond appropriately,” she said.


US Commerce Secretary Wilbur Ross, who announced the tariffs, said in an interview on Thursday that any retaliatory measures are unlikely to have much impact on the US economy. 


He added that he believes the relationship between the US and the affected allies will not be affected in the long-term and that the allies “will get over this in due course”.


Article source: http://www.cbc.ca/news/canada/saskatoon/first-nations-more-money-education-minister-1.3907717?cmp=rss


Best Wordpress Plugin development company in India     Best Web development company in India

Comments

Post a Comment

Popular posts from this blog

Canadian expected to be aboard Russia's 1st manned space mission since rocket failure

READ MORE The first manned mission to the International Space Station since a Russian rocket failed to launch successfully earlier this month may take off on Dec. 3, space agency Roscosmos said on Wednesday. And the crew is expected to include Canadian astronaut David Saint-Jacques, Agence France-Press reported. A Russian cosmonaut and U.S. astronaut were forced to abort their mission on Oct. 11 and perform an emergency landing after a launch accident that Roscomos said was caused by a faulty sensor. The accident was the first serious launch problem experienced by a manned Soyuz space mission since 1983, when a crew narrowly escaped before a launch pad explosion. Sergei Krikalyov, a senior Roscosmos official, was quoted by state news agency Tass as saying the next manned launch had been planned for mid-December, but that Russia was trying to bring the date forward so that the ISS is not briefly left without a crew. “The industry is making significant efforts to move the launch t...
Read more

Getting the dope on pot stocks is becoming easier as media groups invest in content: Don Pittis

Image
READ MORE “What’s the buzz? Tell me what’s happening,” goes the ’70s rock anthem. Part of the catchiness of the lyric — from the rock musical Jesus Christ Superstar  — was that in that era the term “buzz” had developed a second spicy meaning. It described the high that people got from smoking cannabis. In the 1970s, the magazine High Times was a brand new title keeping an eye on the illegal but growing business of marijuana pricing and sales. It ran centrefolds of glistening pot plants and of an apartment filled to the windows with what the magazine insisted was an entire ton of cannabis. Now some of Canada’s most staid media voices are looking for ways to go toe to toe with High Times and its U.S. competitors, hoping to profit from Canada’s global head start in legal recreational cannabis. But when it comes to making a killing from spreading the buzz on the cannabis biz, to q...
Read more

Toronto man denies conspiring with Marvel CEO in alleged hate mail scheme

Image
READ MORE A Toronto man accused of conspiring with the head of Marvel Entertainment in a bizarre hate mail campaign against his wealthy former employer has denied any role in the alleged scheme. David Smith, along with Marvel CEO Isaac (Ike) Perlmutter, is the target of a slander lawsuit launched earlier this year by Canadian businessman Harold Peerenboom. Now Smith — a former employee of Peerenboom’s Toronto-based executive search firm, Mandrake Management — has filed a motion to dismiss the U.S. civil suit. It’s the latest development in the years-long legal battle between Peerenboom and Perlmutter, a notoriously reclusive American billionaire and personal friend of U.S. President Donald Trump. The hate mail campaign, which ran   between 2012 to 2015, saw anonymous letters falsely accusing Peerenboom of being a child molester, murderer and anti-Semite...
Read more