United States 'closed the door' on tariff talks — European Union trade official

07 June, 2018, 17:44 | Author: Sue Mclaughlin
  • Bikers Michael Thompson Mark Astle Mark Ozzie Taylor and Ralph Zirkinitzer ride their Harley Davidson motor bikes through the Gap of Dunloe Killarney Co Kerry during Ireland Bikefest which took place this weekend. Harley Davidsons were among the firs

"Mexico has the right to take measures with equivalent commercial effects", the economy ministry said in a statement explaining the tariffs.

The US officials conveyed President Donald Trump's clear goal for achieving a fair-trading relationship with China, it said, adding that the delegations will now report back to receive guidance on the path forward. "Mexico, Canada, China and others have treated them unfairly", Trump tweeted as he assured his country to change this dynamic through his ongoing trade deals.

And shortly after the US tariffs took effect last week, Europe's top trade commissioner said the European Union also will now consider "rebalancing measures".

Mexico has published the tariffs it's imposing on products imported from the United States in response to the Trump administration's duties on Mexican steel and aluminum.

Other US allies have also reacted with fury and retaliation, with fears building of a global trade war.

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But just when it appeared a trade truce between the two economic heavyweights was on the cards, the White House last week warned it would pursue tariffs on $50 billion worth of Chinese imports, as well as impose restrictions on Chinese investments in the United States and tighter export controls.

The tariff increases are created to hit areas that are politically favorable to Trump, such as pork production, Mexican experts said.

The trade gap is thus not shrinking as quickly as President Trump had hoped, despite his imposition of steel and aluminium tariffs in March.

The Journal reported that during the talks, Liu made clear to Ross that the $70 billion offer would be withdrawn if the US proceeded with its threat to impose tariffs on $50 billion of Chinese products.

"It is very hard to reach a negotiation when measures of this nature are suddenly taken", the minister said.

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