Trudeau rejects immediate retaliation on United States tariffs

Trudeau rejects immediate retaliation on United States tariffs

Trudeau rejects immediate retaliation on United States tariffs

In addition, China would buy more USA crude oil and natural gas exports to quench its thirst for energy.

And shortly after the USA tariffs took effect last week, Europe's top trade commissioner said the European Union also will now consider "rebalancing measures".

The offer was made in talks in Beijing over the weekend with Commerce Secretary Wilbur Ross, part of sensitive trade negotiations that could force President Donald Trump to make a tough decision about accepting this proposal or pushing for more concessions. But the Trump administration walked away.

United States media reported in February that the two sides shelved tentative plans for a visit to Washington by Pena Nieto as tensions persisted over a proposed border wall.

The United States and China have threatened tit-for-tat tariffs on goods worth up to $150 billion each.

"These unilateral tariffs, imposed under a false pretext of safeguarding U.S. national security, are inconsistent with the United States' global trade obligations and WTO rules", Canada's Foreign Minister Chrystia Freeland said Friday after her country filed its WTO complaint.

Trump weighed in on Twitter early Monday by saying, "China already charges a tax of 16% on soybeans. Not acceptable!" Trump said in another tweet.

The peso turned lower after White House National Economic Council Director Larry Kudlow said Trump was "seriously considering " splitting North American Free Trade Agreement talks into separate processes for Mexico and Canada.

"Trump claims that he is seeking fairness and reciprocity in the U.S.' economic relationship with China but, so far, he has sought to extort gains from China using the economic advantages the USA has", it said. "It would require additional rounds of discussions between the two sides".

Related news

[an error occurred while processing the directive]