Justin Trudeau, Donald Trump talk steel and aluminum

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Trudeau told another USA network that he sees them as separate issues: "We don't link together the tariffs and the negotiations with NAFTA", he told CNBC in an interview from a Quebec aluminum plant Monday. Canada and Mexico were temporarily exempt from the tariffs - but the Trump administration has suggested that'd depend on a new NAFTA deal.

Recent weeks have seen him follow through on those promises, with Trump announcing in early March a 25 per cent tariff on U.S. steel imports, but with exemptions for Canada and Mexico.

The trade in steel between Canada and the U.S.is pretty much balanced, so Canada could respond with its own tariffs on American steel and aluminum.

U.S. Commerce Secretary Wilbur Ross will urge the European Union to lower its trade barriers, U.S. President Donald Trump said on Monday, calling them unfair to U.S. farmers and industry, a view rejected by the EU and challenged by a Republican senator.

Gary A. Cohen is a Clinical Professor of International Business, Global Trade and Supply Chain Management at the University of Maryland's Robert H. Smith School of Business. He wants to make access to USA markets contingent on foreigners' playing by the rules (e.g., paying full price for the research costs of our technologies). "It will cost consumers millions of dollars for each job saved in aluminum or steel production - a genuinely stupid and counterproductive policy".

"If the sources of all USA steel and aluminum imports were part of this dispute, trading partners would be permitted to retaliate by a collective amount of $14.2 billion per year", he writes. The move will certainly come as a huge burden to Korean steelmakers.

If a USA trading partner wants to go through the WTO's dispute settlement process, it could make a "request for consultations" that would start a 60-day period to talk about the issue.

It has also lined up 2.8 billion euros of USA products, from maize to motorbikes, on which to impose tariffs so as to "rebalance" trade flows.

The U.S. president is demanding that Europe open itself more to American products, especially American food products like beef. But there is still room for further negotiations. "It is bad for European citizens, for Dutch citizens and it will turn out bad for USA citizens as well".

She's wrong. The U.S. president has linked them and, in doing so, placed Canada in a awful bind. He is working to reassure anxious workers the government has and will continue to have their backs. A Trump administration official said these procedures are awaiting final clearance and are expected to be published within a week.

One unrelenting question now is what price will Mr Trump seek for the exemption granted to his Australian mates?

Of those imports, South Korea, Japan, China and India accounted for 6.6 million tonnes.

Dutch Finance Minister Wopke Hoekstra said the tariffs are "a bad idea".

Some trade deals, like the World Trade Organization agreements to which most nations subscribe, set out general rules involving a host of issues like anti-dumping, customs valuation and pre-shipment inspection.

All steel-using industries, including the automobile industry, will be squeezed by higher input prices, and their ability to export or compete with imported goods will be eroded.

Mr. Trump's tariffs finally are an indication that the United States no longer will capitulate to China's trade cheating. There might be some changes in the global economy, depending on how flexibly the new measure will be taken.

J. Bradford Jensen, a professor of global business at Georgetown University's McDonough School of Business, told us that "imports did have something to do with the loss of employment in steel and aluminum, but the more important factor is technological change and productivity growth". He can propose a 50 percent tariff on a country or some products, and then modify his terms if some accommodation is made, or maybe double down if no accommodation is offered. On a similar note, China showed its determination to lead the counteraction of WTO members affected by the new US tariff policy. The bloc is hoping for an exemption from Trump's crippling new 25% tariffs on aluminium imports and 10% tax on steel. The three major economies take up almost half of South Korea's total outbound shipments. Mr Ciobo didn't want to commit: "We need to assess it on a case-by-case basis".

The encouraging news is that there is nearly total unanimity that the tariffs would be just as harmful to the American economy as they would on this side of the border.

Total steel production rose 5.7 per cent past year compared with 2016 to a record 831 million tonnes, according to the Chinese Cabinet's planning agency, the National Reform and Development Commission. It was not clear when or where the meeting would take place.