Over 146,000 Americans will lose their jobs because of Trump’s trade tariffs

Over 146,000 Americans will lose their jobs because of Trump’s trade tariffs

The announcement follows through with a promise President Donald Trump frequently made out on the campaign trail that he would retaliate against countries he viewed as having unfair trade relationships with the United States.

Trump's decision could raise prices for Americans on a range of everyday products.

There have been seven rounds of NAFTA negotiations since August 2017.

Canadian Prime Minister Justin Trudeau called the move "totally unacceptable", while in London a spokesperson for Theresa May said the British government was "deeply disappointed".

Trudeau said that in NAFTA talks, Canada, the USA and Mexico had come so close to a deal he had offered to meet Trump in Washington.

Mr Ross himself heads to Beijing today where he will attempt to get firm deals to export more USA goods in a bid to cut America's $375 billion trade deficit with China.

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Canada hasn't yet laid out its response, but the United States imports more steel from Canada than any other country in the world - 5.8 million metric tons previous year alone.

The list of goods set to get hit by the Canadian tariffs varies from industrial steel to sleeping bags.

The threat of a full-scale trade war loomed between the transatlantic partners after US President Donald Trump signed a proclamation removing an exemption from metal tariffs of the European Union, Mexico and Canada as of June 1. "Do timber and lumber in US?"

Canadian Prime Minister Justin Trudeau (seen here with President Trump in October) on Thursday called the argument that USA steel import tariffs were necessary for national security reasons an "affront" to Canada. They must open their markets and take down their trade barriers!

Europe also said it would start the process for enacting retaliatory tariffs.

Earlier this week, Trudeau said that killing the deal could be better than swallowing unfavorable revisions to the 1994 trade pact.

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But Ross said Thursday that those talks "are taking longer than we hoped".

The move marks the Trump administration's most aggressive trade action yet against major United States trading partners, which had been asking for permanent relief.

Mexico and Canada are the state's two biggest trading partners.

Before the tariffs were announced, Canadian Foreign Minister Chrystia Freeland said the Canadian government would take steps to protect jobs and industry, calling the United States justification "frankly absurd". Mexico was the third largest, behind South Korea.

The American exports targeted in the initial wave of European Union retaliatory tariffs are worth roughly €2.8 billion ($3.3 billion) annually, according to European Union officials.

Ross said talks with the European Union had failed to reach a satisfactory agreement to convince Washington to continue the exemption from the tariffs imposed in March.

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The United States is also exploring the possibility of putting new tariffs on cars. Last year, Bay State businesses exported almost $3 billion in goods to Canada and another $2.5 billion to Mexico.

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