Markets

European Union sets July timeframe for U.S. tariff reprisals

European Union sets July timeframe for U.S. tariff reprisals

Mr Trump introduced tariffs of 25 per cent on steel and 10 per cent on aluminium from the EU, Canada and Mexico last week.

Kudlow added that the United States and China had not yet reached a deal to resolve Trump's demand for a smaller US trade deficit with China. The White House backed the bill earlier this year. The US Commerce Department says that constitutes a threat to US national security.

Finance ministers from the six other nations participating in the summit issued a rare public rebuke during a preliminary meeting last week, saying they would retaliate against Trump's decision to impose duties on steel and aluminum imports from the European Union, Canada, and Mexico.

"His preference now, and he asked me to convey this, is to actually negotiate with Mexico and Canada separately", he told Fox News Tuesday.

Trump bragged at a fundraising speech later that month that he made up facts in a meeting with Trudeau, claiming the USA runs a trade deficit with its biggest ally.

On Friday, just after the metals tariffs were put in place Trump floated the idea of negotiating separate bilateral trade pacts with Canada and Mexico, if no deal can be reached on modernizing the three-way NAFTA.

Canadian Prime Minister Justin Trudeau has stepped up his criticism of the Trump administration in recent days, taking special offense to the "national security" rationale Washington used to justify steel and aluminum tariffs on its close ally and trading partner.

Apple reveals iOS 12 with strong focus on performance improvements
Along with this, it is also expected that the company might roll out some upgrades to the macOS, tvOS and WatchOS. The company is also expected to focus more on bug fixes and security improvements than new features with iOS 12 .

The group says that there are 110,000 USA jobs directly tied to United States pork exports to Mexico as well as to other countries. That falls short of the US$200 billion over two years that the Trump administration has demanded the Chinese government buy to address a yawning trade imbalance. Soldiers reportedly sat down to eat a meal made of leftover food from the White House scullery using White House dishes and silver before ransacking the presidential mansion and setting it ablaze.

"Why is the prime minister waiting.to impose steel and aluminum countermeasures when those USA tariffs are in effect right now?"

The tariffs, meanwhile, have further complicated the U.S.

Police officers stand near the Congress Center prior to the beginning of the G7 Summit in Quebec City, June 6, 2018. The war was fought in Upper Canada, Lower Canada, on the Great Lakes and the Atlantic, and in the United States. European allies have urged Trump to reconsider.

"We understand what the president is trying to do in terms of the broader discussions", he told Maria Bartiromo on "Mornings with Maria" on Wednesday.

As an economist who studies global trade, I thought it'd be instructive to explore the trade relationships the US has with each partner to show just how important they are - and what would be the consequences of a full-blown trade war. "This is devastating to my family and pork producing families across the United States".


  • SpaceX SES 12 launch lights up the night

    SpaceX SES 12 launch lights up the night

    SpaceX won't land the booster again, as the company is trying to phase out the Block 4 rockets for the new Block 5 configuration. The rocket's first stage booster has flown before, back in September when it launched the U.S.
    Apple's new phone software speeds up older devices

    Apple's new phone software speeds up older devices

    You can also set Do Not Disturb to automatically activate or deactivate when you're in a meeting or at a certain location. If you need a little help making those kind of decisions, a new setting called App Limits acts as your iPhone babysitter.
    India's growth likely topped 7pc again in January-March quarter

    India's growth likely topped 7pc again in January-March quarter

    Possibly, the biggest risk could be rising crude oil prices, which this month hit $80 a barrel, their highest since 2014. "We expect GDP growth of about 7.3 per cent in 2018, down from our previous forecast of 7.5 per cent", the report said.
  • Germany releases 23-man squad, drops Leroy Sane, others [Full squad]

    Germany releases 23-man squad, drops Leroy Sane, others [Full squad]

    Leroy has a huge talent. "That was a very close decision between him and Julian Brandt , which was made in favor of Brandt". Sane has been left out of the final 23-man selection, however, with Julian Brandt and fit-again Marco Reus preferred.
    Donald Trump waits on Kim Jong-un letter, talks up possible meeting

    Donald Trump waits on Kim Jong-un letter, talks up possible meeting

    He and Pompeo shook hands shortly after 9:00 am (1300 GMT) and began their talks over breakfast, with four people on each side. Trump, the official said , "can make a fly or no-fly decision anytime he wants", referring to the possible Singapore summit.
    Jerry Jones: Trump said 'you can't win' anthem issue

    Jerry Jones: Trump said 'you can't win' anthem issue

    As it stands right now, the league has effectively silenced not only the players but an audience that many of them represent. That speculation seems to have been confirmed, per a new report from the Wall Street Journal .
  • Lawyers say Trump 'dictated' statement on Donald Jr.'s Russian Federation  meeting

    Lawyers say Trump 'dictated' statement on Donald Jr.'s Russian Federation meeting

    The letter outlines 16 topics Mueller's team intends to question Trump about, including the firing of FBI Director James Comey . Trump's lawyers argue that he can shut down an investigation or fire subordinates, regardless of his motivation.
    Russian crude oil output stagnant but remains above quotas in May

    Russian crude oil output stagnant but remains above quotas in May

    While US production continues to grow, US supply is now no match for rising global demand. The premium for Brent over WTI is now significant, and near three-year highs.
    Arsenal 'in talks with Juventus right-back Stephan Lichtsteiner'

    Arsenal 'in talks with Juventus right-back Stephan Lichtsteiner'

    When asked if he was looking forward to working under Emery, Ramsey replied: "Of course". "I can't wait to get back there now". Raphael Honigstein explains why Borussia Dortmund's Sokratis Papastathopoulos would be an underwhelming addition for Arsenal .
  • The Office star Hugh Dane passes away

    Hugh Dane , the actor who portrayed Hank the Security Guard on NBC's The Office , died May 16 at the age of 75. The announcement of Dane's death was posted on the The Inner City Cultural Center Facebook page on Monday.
    Tennis player Damir Dzumhur, ball boy in brutal collision

    Tennis player Damir Dzumhur, ball boy in brutal collision

    Fortunately, the lad was all right, smiling as he left the court. "I made a few mistakes which I really shouldn't", said Dzumhur. During the match, Dzumhur collided with a ball boy as both ran towards each other with their eyes on the ball.
    Italian president reappoints Giuseppe Conte as PM-designate

    Italian president reappoints Giuseppe Conte as PM-designate

    Mattarella rejected the coalition's choice of Paolo Savona , a controversial Euro-skeptic professor, as minister of the economy. Italy's caretaker prime minister Carlo Cottarelli met with the president on Wednesday morning amid huge political uncertainty.