U.S. tariffs on steel will hit Canadian defence industry: minister

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"In response to these measures, Canada intends to impose surtaxes or similar trade-restrictive countermeasures against up to C$16.6 billion in imports of steel, aluminum, and other products from the USA, representing the value of 2017 Canadian exports affected by the USA measures", Canada's government wrote on its official website.

Tariff exemptions continue to apply to Argentina, Brazil, and Australia, which have all agreed to restrict exports of steel and aluminum to the United States.

The bloc also opened proceedings against China, the world's second-biggest economy, in a case involving intellectual property, in an effort to not single out the U.S., the European Union said.

Britain must "act decisively" to show it will not be "cowed or bullied" by United States tariffs on steel, Labour's shadow global trade secretary Barry Gardiner has said.

The steel and aluminium tariffs could also complicate the USA administration's efforts to renegotiate the North American Free Trade Agreement with Canada and Mexico, a pact which Mr Trump has condemned as a job-killing "disaster".

"Canada is a secure supplier of aluminium and steel to the U.S. defense industry, putting aluminium in American planes and steel in American tanks", Trudeau said.

Last year, the U.S. Commerce Secretary Wilbur Ross attacked the EU's "extreme protectionism" as President Trump planned the metal tariffs.

"The announcement was made by Commerce Secretary Wilbur Ross and immediately it drew retaliatory action by Mexico, Canada and threats of the same by the European Union, while France calling the move as ïllegal".

Top European officials held last-ditch talks in Paris with American trade officials to try to avert US tariffs on steel and aluminum. Mexico said it would penalize US imports including pork bellies, apples, grapes, cheeses and flat steel.

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Germany's Volkswagen, Europe's largest automaker, said no side would win a trade war.

The EU has already started a case against the United States at the World Trade Organisation in Geneva, although this route may take many months to reach a conclusion.

Potential U.S. tariffs on European steel or quotas on foreign cars have raised threats of retaliation and fears of a global trade war - a prospect that is already weighing on investor confidence and could hinder the global economic upturn.

German Finance Minister Olaf Scholz said G-7 countries also told Mnuchin about their opposition to new US sanctions on Iran, which will affect European companies.

The EU's planned measures hit USA exports running the gamut from big motorcycles like the Harleys, built on the home turf of House Speaker Paul Ryan, to "canoes", "manicure or pedicure preparations" and even "sinks and washbasins, of stainless steel" - the proverbial kitchen sink.

Ministers urged the U.S.to quickly abandon the tariffs ahead of the leaders' summit before the move causes deeper divisions within the G7.

Though the tariffs were first announced in March by US President Donald Trump, 45 at the time granted his trading partners an exemption, first until May 1 and then until June 1, Sputnik previously reported.

European Union leaders also said they will be taking the U.S.to the World Trade Organization (WTO) "trade court" in an attempt to have Mr. Trump's policy declared illegal under worldwide rules.

But he said that those "who waged bilateral trade wars. saw an increase in prices and an increase in unemployment".

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