Trudeau declines to meet Trump because of USA precondition

Canadian Prime Minister and amateur pugilist Justin Trudeau has traded in his

Trudeau declines to meet Trump because of USA precondition

Trump's latest move amounts to "blackmail" in the NAFTA renegotiation, but it doesn't kill chances of carving out a deal, says a veteran of Canada's free trade battles.

Trump's remarks follow a refusal by Trudeau to accept terms laid out by the US administration.

Le Maire said it's now up to the U.S.to take action to rebuild confidence among G7 members - and to avoid any escalation next week during the G7 leaders' summit.

U.S. Secretary of the Treasury Steven Mnuchin holds a news conference after the G7 Finance Ministers Summit in Whistler, British Columbia, Canada, June 2, 2018.

"Concerns were expressed that the tariffs imposed by the United States on its friends and allies, on the grounds of national security, undermine open trade and confidence in the global economy", the summary of the meeting noted.

Canadian Prime Minster Justin Trudeau on Friday slammed the White House claim that it was imposing new tariffs on Canadian steel and aluminum to protect American national security interests.

Trudeau, in an interview with NBC's "Meet the Press", called that reasoning "quite frankly insulting and unacceptable", considering the two countries' long history of military cooperation.

The memo, citing outside studies, adds the possible job losses from tariffs both threatened and enacted by the administration, plus a possible United States withdrawal from NAFTA, the trade agreement with Canada and Mexico.

Canada retaliated with plans to levy tariff "countermeasures" of its own on up to $16.6 billion worth of imports of steel, aluminum and other products from the U.S.

More news: Uber CEO doubles down on self-driving tests

He made the comment while outlining Canada's response to US tariffs on steel and aluminum imports.

Prime Minister Justin Trudeau has taken exception to the fact that the US has imposed tariffs for "national security" reasons. A White House official said a range of issues had yet to be resolved.

The E.U. and Canada also opened cases against the US with the World Trade Organization related to attribution of national security threats.

"On trade, this is a G6 plus one", Mr Le Maire said after stepping outside briefly from the talks.

The tit-for-tat trade spat comes after nine months of negotiations between Canada, Mexico and the United States to revamp NAFTA bogged down. It also requested a review of the U.S. measures under the North American Free Trade Agreement Chapter 20 trade dispute mechanism.

Mr Trump went on to say the United States loses "a lot of money with Canada" and "a fortune with Mexico" and that while he loved both countries, they took "advantage of us economically".

Juncker said that the European Union "believes these unilateral USA tariffs are unjustified and at odds with World Trade Organization rules". Trudeau said he replied that "there was no possibility of any Canadian prime minister signing a NAFTA deal that included a five-year sunset clause".

The move elicited loud complaints from USA allies.

Latest News