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US Signs Off On Tariffs, Angering Trade Partners

US Signs Off On Tariffs, Angering Trade Partners

"We expressed our concern".

Top EU trade officials will hold crunch talks with their USA counterparts in Brussels on Saturday hoping to get "clarity" on President Donald Trump's controversial new steel and aluminium tariffs.

Warning Trump's plans could lead to "a serious trade dispute" between Washington and the rest of the world, Tusk said European Union leaders would hold an emergency debate on the issue at a summit in Brussels on 22 and 23 March.

President Donald Trump's tariff on steel and aluminum imports will go into effect in 15 days and critics of the plan suggest the United States would be better off with the world competing to serve their needs. The Trudeau government is failing to take these trade disputes and other trade irritants seriously.

"We call for calm-headed behaviour", Mr Seko said.

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"As a close security and trade partner of the US, the European Union must be excluded from the announced measures", Malmstrom, the 28-nation bloc's trade commissioner, said in a tweet after a meeting with the U.S.'s top trade negotiator Robert Lighthizer.

"He only explained the schedule and the procedures", he said.

"An industry that can't make it, we have to protect a macroscopic number of workers at the expense of 330 million American people", RealClearMarkets editor John Tamny told FOX Business' Charles Payne.

The EU exports around five billion euros' ($4 billion) worth of steel and a billion euros' worth of aluminium to the USA each year, and the European Commission, the bloc's executive arm, estimates Trump's tariffs could cost some 2.8 billion euros.

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After the meeting, Malmstrom tweeted, "No immediate clarity on the exact USA procedure for discussions will continue next week".

The visit had been planned for weeks as a follow-up discussion on overcapacity, seen by observers as a swipe at China.

Canada and Mexico will be exempt indefinitely.

Commission Vice President Jyrki Katainen warned Washington on Friday not to expect any concessions to win an exemption.

Germany - singled out for particular criticism by Trump - accused Washington of protectionism, calling the tariffs an "affront to close partners". "On top of that, this action will go a long way toward securing our national defense, as it will allow American companies to continue to provide the steel and aluminum needed to equip the military and build critical infrastructure", it said. But the White House has repeatedly undermined its own legal case, including by intimating that the tariffs would be held over Canada and Mexico as some kind of negotiating tool to extract NAFTA concessions. "It could disrupt the steel and aluminium markets of the world and have a negative impact", Mr Seko told reporters after his meeting with US Trade Representative Lighthizer in which he sought an exemption for Japanese producers.

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European industry associations called on Malmstrom to respond if the EU was subjected to the tariffs, saying they would hit the steel and aluminum sectors hard.