Kudlow: Trudeau is 'overreacting' to USA tariffs

Bill Morneau

Trump economic adviser Larry Kudlow described the tensions over trade as a family quarrel.

'Farmers have not been doing well for 15 years. And they are less interested in bestowing special sidekick status on Canada - through NAFTA or anything else.

"We need a trade policy that is fair to American workers, not just large multi-national corporations", Sanders wrote in a statement on Friday. 'Big trade barriers against USA farmers, and other businesses, will finally be broken. The Trump administration needs all its manpower to address the current trade deficit, China's unfair trade practices, and China's future ambitions.

Gardiner said there would be "no winners" if the European Union and the United States entered a full-scale trade war.

Trump won the presidency with the help of farm-heavy states like Pennsylvania, Wisconsin, Ohio, and Indiana.

In response, the Canadian government announced a plan to impose retaliatory tariffs on United States metals and other products, including agricultural items, representing a total value of $12.8 billion. Affected countries and regions include Canada, Mexico, and the European Union (EU).

All of these countries have threatened retaliation over Trump's tariffs.

Freeland added that the measures will cover some $13 billion in imports with the goods targeted being subject to tariffs of between 10 and 25 percent.

"Don't blame Trump. Blame China, blame Europe, blame NAFTA".

But after totaling the value of Canada's list of U.S. goods subject to tariffs using import data, Business Insider found that the value of these exports is equal to roughly just over $15 billion USA dollars, or 19 billion Canadian dollars.

On Sunday, during an interview with Fox News, White House economic adviser Larry Kudlow responded to Trudeau's comments saying that he didn't think these tariffs would impact the USA "friendship and longstanding alliance with Canada". Commerce Secretary Wilbur Ross is now in Beijing meeting with Chinese negotiators.

He has echoed the administration's position that America has gotten the short end of the stick from China. Over the past year, the G-7 blamed the USA for failure to reach climate change agreement but did nothing about it. It's extremely hard to imagine the US being able to force such a long list of countries into giving in, especially since Trump is fighting a trade war on so many fronts at once.

New tariffs pending on American products coming to Canada has some businesses anxious.

As he walked into his weekly cabinet meeting, Prime Minister Justin Trudeau didn't rule out financial aid.

Canadian Prime Minister Justin Trudeau today slammed the tariffs imposed by the Trump administration on steel and aluminum as "insulting and unacceptable" and said he would retaliate by placing similar penalties on United States goods.

"If the US rolls out trade measures including tariffs, all the agreements reached in the negotiations won't take effect", state-run Xinhua News Agency reported Sunday, citing a statement from the Chinese team that met with a USA delegation led by Commerce Secretary Wilbur Ross. "It can not be overstated what this president has done for the community, the hope that he is inspiring, the economic growth that he has inspired within this country".

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