Trump takes aim at Canada after Trudeau's retaliation over new USA tariffs

TAKE IT OR LEAVE IT 'The United State will agree to a fair deal or there will be no deal at all

The network backed by billionaire brothers Charles and David Koch is coming down hard on President Donald Trump's trade policies, yet another indication of the conservative mega-donors' willingness to break with the the Trump administration. Some conservative US senators including Ben Sasse (R-Neb.) also raised objections, arguing that tariffs are contradictory to conservative free trade principles.

After the G7 summit, Canadian finance minister Bill Morneau issued a summary saying the other six members want Mr Trump to hear their message of "concern and disappointment" over the United States trade actions.

Trudeau is hosting a June 8-9 summit of Group of Seven leaders, including Trump, in the Quebec region of Charlevoix.

Pierre Lampron, president of the Dairy Farmers of Canada, said in a letter to Trudeau Monday the prime minister's comments were "quite worrisome", and "deeply troubling for our dairy farmers", given repeated pledges of support by Trudeau and his lawmakers for the sector. "By the time I finish trade talks, that will change", he tweeted.

Disputes between the United States and its biggest trading partners continued to heat up.

He has pushed for China to open its markets more to US agricultural exports, which would give Trump a win to brag about and likely boost his chances of winning farm states like Iowa in the 2020 election.

Mnuchin rejected comments from some G7 officials that the United States was circumventing worldwide trade rules with the tariffs or ceding leadership of a global economic and trading system it largely built after World War Two.

Mnuchin rejected the notion the U.S. is abandoning its traditional leadership role in the world economy, noting that America is driving global growth.

"We will continue to make arguments based on logic and common sense and hope that they eventually will prevail against an administration that doesn't always align itself around those principles", says Trudeau.

Speaking to reporters, Mnuchin said that global economic leadership remains one of President Trump's goals, adding that national security was also of importance to the U.S. But the security aspect is what many of other leaders see as problematic.

"If we charge a country ZERO to sell their goods, and they charge us 25, 50 or even 100 percent to sell ours, it is UNFAIR and can no longer be tolerated".

Joseph Galimberti, president of the Canadian Steel Producers Association, said his industry wants Canada to levy the same taxes on USA imports as soon as possible instead of waiting one month.

In addition to asking the reconsider and reverse the tariffs, the six finance leaders noted that because of the actions taken by the USA, "collaboration and cooperation has been put at risk".

Meanwhile, French Finance Minister Bruno Le Maire urged the United States to send "positive signals" to its European allies and G7 partners to avoid a trade war. "The American tariffs went into effect immediately and Canadian shipments of steel are already being turned back from the border", he said.

The world's two largest economies remain on collision course after US Commerce Secretary Wilbur Ross emerged from two days of trade talks in Beijing with little to show.



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