Debbie Shon, a partner at the law firm Quinn Emanuel and a former official in the US Trade Representative's office under President Bill Clinton, toldBusiness Insider that the exact value of the tariffs doesn't have to be exactly the same. The ministers of the G7 countries also urged the US Treasury Secretary Steven Mnuchin to convey their "unanimous concern and disappointment" over the recent US decisions to impose tariffs on imports of metals from the European Union as well as from Canada and Mexico. The EU also started the process of filing a complaint with the World Trade Organization.
He further said that the retaliatory tariffs would only be applied to USA goods and would come into effect from July 1.
Republicans facing tough elections worry voters will take it out on them if the latest tariffs- and similar moves against China - ignite a global trade war...
The Mexican Council on Foreign Relations (Comexi) said that targeting could have domestic ramifications for Trump that may cause him to reconsider the introduction of the metal tariffs.
Mexico's list of proposed tariffs includes cranberries.
Mr Ross said talks with the EU, Canada and Mexico had not made enough progress to warrant holding off from imposing the tariffs. "That is not Free or Fair Trade, it is Stupid Trade!"
"Given that we export some pretty complex steel products to the United States which are part of their national security programmes themselves, this reasoning that is given is wrong and therefore we believe unlawful".
And despite failing to convince Trump not to impose steel tariffs, Fox still hopes to convince them that "this is not the right mechanism to deal with" Brexit. According to estimates compiled by the Council on Foreign Relations, new vehicle prices in the USA could climb by as much as 0.8 percent, which could result in global sales declines of American-built cars as high as 3.6 percent. We do not have any other choice but to respond.
"Unfortunately we are going to have a G6 plus one with the United States alone against everyone and running the risk of economic destabilisation", Le Maire told reporters.
Trudeau: Trump's tariffs are 'insulting and unacceptable'
Prime Minister Justin Trudeau has taken exception to the fact that the USA has imposed tariffs for "national security" reasons. The administration is also placing tariffs on $50 billion of various Chinese goods, citing unfair Chinese trade practices.
Syria's Assad says Damascus almost won 7-year-war
Also Thursday, Israeli Defense Minister Avigdor Lieberman visited Moscow for talks focusing on Syria. He said it was down to "the wisdom of the Russian leadership" that a confrontation did not happen.
Eurozone inflation in big jump just as uncertainties mount
The pan-European Stoxx 600 closed provisionally up nearly 1 percent, with most sectors and major bourses in positive territory. Spain's IBEX 35 jumped 1.8 percent after Spanish Prime Minister Mariano Rajoy was ousted as leader of the country Friday.
Samsung shares hurt by negative Morgan Stanley forecast
The company will be starting construction soon on a special EUV facility as part of their Hwaseong complex in South Korea. The Note 8 has seen an incredible return to form for the company and saw over 4 million devices sold around the world.