Trade Deadlines For EU and NAFTA

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  • #16435
    Helmholtz Watson



    Canada PM Trudeau:
    – Negotiators have made significant progress at #NAFTA talks with positive momentum
    – Bad idea to disrupt trade in steel and #aluminum between Canada and US


    US March trade deficit $49.0 billion vs $50.0 billion expected
    Previous was a deficit of $57.6 billion (revised to $57.7B)

    Goods deficit $69.49B
    Services surplus $20.54B
    Exports +2.0% vs +1.7% prior
    Imports -1.8% vs -1.7% prior

    Mexico deficit $8.1 billion
    Canada surplus $0.3 billion
    China deficit $25.88B vs $29.26B prior


    On Tuesday, the White House confirmed the Trump administration had postponed decisions on imposing tariffs on Canada, the European Union and Mexico, but had reached in-principle agreements with Australia, Argentina and Brazil for indefinite exemptions.


    Well this is getting ugly after US put tariffs on EU after NAFTA talks failed:

    Canadian PM Trudeau says US steel and aluminum tariffs totally unacceptable and Canada Will retaliate

    Tariffs will disrupt linked supply chains
    US has a $2 billion surplus on steel trade
    ‘Inconceivable’ that Canada could be security threat
    Americans remain our partners, allies and friends. Hope that at some point, common sense will prevail but we see no sign of that in latest US action
    I’ve said for months that we need to be ready for anything


    Canadian Trade Minister Freeland:

    Canada will put tariffs on steel, aluminum from US along with other products up to $16.6 billion
    Countermeasures will only apply to US products, will take effect July 1
    Tariffs will remain in force until US tariffs are eliminated
    Will begin 15-day consultation period today
    US tariffs will be launching WTO challenge and US tariffs also violate NAFTA
    We are imposing dollar-for-dollar tariffs
    Two lists of goods: One at 25%, one at 10%

    Will work with like-minded countries at WTO
    Canada accounts for roughly half of US steel exports


    Mexico Response via Mexican economy ministry

    – To take reciprocal actions versus US tariffs
    – Will impose equivalent measures on diverse products in reaction
    – Measures will be in place until US eliminates the tariffs


    [color=teal][b]and believe compromise could be eventually achieved 🙂
    as often the BARK stands out more than the BITE in the news 😉 :whistle: :whistle: :whistle: [/b][/color]

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