Insulting Tariffs
At his closing G-7 press conference on Saturday, Trudeau called U.S. steel and aluminum tariffs “insulting” and pledged to proceed with previously announced retaliatory tariffs. Canadians are “polite, we're reasonable, but we also will not be pushed around,” Trudeau said.G-7 leaders jumped to the defense of Trudeau and reiterated their support for their joint statement. European Council President Donald Tusk tweeted: “There is a special place in heaven" for Trudeau.Trudeau has declined to directly respond to Trump's criticism of him.“I think we have to stay cool. I think we have to continue to defend Canadian interests,” Canadian Natural Resources Minister Jim Carr told reporters Tuesday in Ottawa.Trump said on Tuesday in Singapore, after he met North Korean leader Kim Jong Un, that Trudeau has “learned” from the experience.“He learned,” Trump said. “That's going to cost a lot of money for the people of Canada.”Speaking at the same forum as Navarro on Tuesday, White House Council of Economic Advisers Chairman Kevin Hassett said the U.S. and Canada need to “take a deep breath.”“There's been a lot of emotional action on all sides. And I think what people need to do at this moment is take a step back,” Hassett said. “Politicians can get into disagreements and they can have heated disputes, but you have to think about where does this go, how bad could it get, and the disputes are over a really, really small share of GDP.”
Copyright 2018 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.