Trump's trade tensions with G7 'a family quarrel,' Kudlow says

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Trump's tariffs, which were announced on May 31 and impose a 25 percent tax on imported steel and a 10 percent tax on imported aluminum, immediately angered foreign trading partners, but a new poll shows that Americans are somewhat split on whether the move will help or hurt the US economy.

Instead, he said, industry officials demanded that the government take counter-tariffs as soon as possible. Some further tariffs will come into force on July 5.

The Mexican peso fell to its weakest levels since February 2017 on pessimism about the trade negotiations.

But with Trump's decision last week to enact aluminum and steel tariffs against US allies in Europe and North America, he is subverting previously agreed-upon trade pacts.

The current-day White House, from which Trump was likely taking Trudeau's call, had to be mostly rebuilt as a result of the fire.

Mexico's retaliation is created to effect some parts of the United States represented by high-profile Republicans.

A tariff is basically a tax on imports that raises the price of foreign company's products for American consumers, putting imports at a disadvantage to domestic producers. Bourbon-producing Kentucky and cheese-producing Wisconsin are others. He fears the USA tariffs on metal imports will hurt a lot of businesses.

In Iowa, the top pork-producing state in the U.S., with Mexico as its largest market, Republican Congressman Rod Blum is seen as vulnerable.

Speaking with reporters on the White House lawn, Trump said that Canda and Mexico were "very different countries" and that he "wouldn't mind" separate trade deals.

The Aluminum Association, the industry group representing American aluminum, has consistently expressed over the past year that any trade remedies vis-a-vis aluminum should focus primarily on Chinese overcapacity and should not harm market-economy trading partners.

Bosco de la Vega, head of Mexico's National Agricultural Council, the country's main farming lobby, said Mexico had sanitary agreements for pork legs with 11 countries, and that Brazil, a major pork producer, was not on the list.

But many USA manufacturers are also against the tariff decision, and that includes MillerCoors, the second largest US brewing company.

Trudeau was angered Trump utilized the rarely invoked "national security" provision to justify the tariffs, and in doing so was alluding that Canada was a threat to USA national security. More importantly, steel exports to the US make up more than half of total Canadian production.

"I'm waiting to hear what their reaction is going to be frankly".

"The United States has been taken advantage of for many decades on trade".

"In no way is this [tariff list] publication revenge". And tariffs are simply one more tool in the president's toolbox when it comes to repairing it.

The tariff fallout continues following the decision last week by the Trump administration that it would eliminate the metals tariff exemption granted to Canada, Mexico and the EU.

Trump suggested last week that NAFTA could be replaced with two separate trade accords, one with Mexico and another with Canada.

He announced that Trump will hold bilateral talks with Canadian Prime Minister Justin Trudeau and French President Emmanuel Macron.

Mexico and the USA had total trade of about $557 billion in 2017, with a balance of $71 billion in the favor of Mexico.