Trump and China: When More is Less

Theresa May and Donald Trump

Mexico said it would counter usa tariffs on industrial metals with reciprocal measures against us agricultural goods and flat steel.

It looks like Canada is getting some help standing up to the bully - Canadian Prime Minister Justin Trudeau, French President Emmanuel Macron and several other world leaders are fighting back against Trump after his decision to slap aluminium and steel tariffs on close US allies.

Mexico said on Monday it plans to file a complaint against the U.S.in the World Trade Organization, where it's challenging the imposition of tariffs on its products, specifically a 25 percent charge on its steel and 15 percent charge on its aluminum.

The list of US agricultural products, almost all of which will be subject to taxes of 15 percent to 25 percent, also includes Tennessee or bourbon whiskey and cranberries. As The Diplomat reported previously, on May 20 U.S. Treasury Secretary Steven Mnuchin declared the trade war to be "on hold".

Canada is imposing tariffs on $12.8 billion worth of US products.

Separately, Mexico took steps on Tuesday to make it more attractive for other countries to send it pork by opening a tariff-free quota for some pork imports.

British Prime Minister Theresa May outlined her deep disappointment at "unjustified" USA steel and aluminium tariffs in a phone call with President Donald Trump on Monday (June 4), her office said.

"We need trade and one of the things we're concerned about is long-term implications that these trade issues will have on our partnerships with Mexico and Canada and other markets", said Iowa Secretary of Agriculture Mike Naig, a Republican.

Xi's government is open to entering into legal contracts to obtain about an additional $25 billion in goods from the US this year, according to the people.

Ruthless Rafael Nadal sends Richard Gasquet crashing out as French challenge fades
ITV4 (Sky channel 120) will show Nadal's clash with Gasquet, which will take place on Philippe Chatrier - no earlier than 1.30pm. Will Halep make it third time lucky? He'll next face No 11 seed Diego Schwartzman , a 7-5, 6-3, 6-3 victor against Borna Coric .


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Trudeau took to American airwaves over the weekend to get his anti-tariff message out, telling NBC's Meet the Press that the US administration's decision to cite national security to justify tariffs on Canadian aluminum and steel is an insult.

Another trade war is brewing - one between President Trump and the Koch brothers. They've previously clashed with the administration over immigration.

China and the United States can cooperate in the sphere of trade, but if Washington takes measures against Beijing, the latter will certainly respond in a tit-for-tat manner, said Bian Yongzu, a researcher with the Chongyang Institute for Financial Studies at the People's University of China.

In short, he argues for modification that recognizes the leverage that the United States has as the largest economy in the world, the largest importer and the third-largest exporter. The G-7 ministers urged the U.S.to abandon the tariffs ahead of the leaders' summit before the move causes deeper divisions within the G-7.

Tariffs of 25 per cent on imported steel and 10 per cent on aluminium are now in place against the EU, Canada and Mexico. "Canada is as abused as the U.S.is and it's about time someone stood up for the Canadians also".

Speaking in the House of Commons earlier however, the global trade secretary, Liam Fox, said he hoped once the United Kingdom had left the European Union, "we'll have no problems with a United Kingdom exemption".

Commerce Secretary Wilbur Ross was in Beijing from June 2-3 for the third round of high-level trade negotiations, which focused on China agreeing to buying more US energy and farming goods, according to the White House.

Mexican Economy Minister Ildefonso Guajardo said his country would now "surely" look to Europe for pork products, used in many traditional dishes in Mexico.

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