US Treasury chief downplays discord at G7 finance meet

US Treasury chief downplays discord at G7 finance meet

US Treasury chief downplays discord at G7 finance meet

Trudeau said on Sunday that he is having "a lot of trouble getting around" that Canada has abruptly become "a national security threat to the United States".

But, Trudeau said, the idea the Americans would even muse about the idea that its closest friend and ally could be a security threat is ridiculous.

But Trudeau, who on Thursday called the tariffs "totally unacceptable", signaled that he was open to the kind of conciliation that Kudlow suggested.

Canada on Friday filed a trade case at the World Trade Organization challenging USA tariffs on steel and aluminium and announced it would work closely with the European Union, which launched its own case hours earlier.

The U.S., Canada and Mexico have been holding talks to renegotiate the deal.

Trudeau's comments come following a decision by President Trump to impose a trade tariff on Canada, justifying his decision under Section 232, which states the country is a security threat.

Freeland pointed out that the United States and Canada have "been working together for 150 years".

"I don't think our tariffs are anything to do with our friendship and longstanding alliance with Canada", Kudlow said on "Fox News Sunday".

The US move has also invited strong criticism from China which retaliated by imposing its own tariffs on imported US goods.

Many of them have promised an appropriate response to the US' actions, which are openly being called a "trade war".

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Canada's expressions of disappointment comes as China warned that any trade dispute deals reached at talks in Beijing "will not take effect" if Trump's threatened tariff hike on Chinese goods goes ahead.

"It's been a lousy deal for the United States from Day One", Trump said Friday, dismissing objections from some of the country's closest allies.

"They're our allies, but they take advantage of us economically", Trump said.

In the NBC interview, Trudeau said Canada would be "lodging complaints against these unfair trade practices".

"I would say it has been far more a G-6 plus one than a G-7", French Finance Minister Bruno Le Maire said.

Mr Morneau said Canada's government is not ready to discuss support or potential bailout packages for Canadian business sectors affected by the tariffs.

Mnuchin, regarded as one of the more moderate trade voices in Trump´s cabinet, said the issue may need to be resolved by G7 leaders at a summit next week in Charlevoix, Quebec, officials attending the meetings said.

Le Maire said it is up to the USA to take action to rebuild confidence among G7 members and to avoid any escalation during the upcoming leaders' summit. The Trump administration is offering a process in which individual companies can apply for exemptions, and Zive says that the new tariffs will lead to thousands of such requests.

The move elicited loud complaints from US allies. Trump said on Friday he might prefer to end NAFTA in favour of two bilateral agreements with the two USA neighbours.

Ross had said the delegations had discussed specific U.S. exports China might purchase to ease the $337bn trade imbalance, but the talks ended with no joint statement and neither side released details.

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