Theresa May expresses disappointment over 'unjustified' USA tariffs

Canada 'deplores' tariff decision: Trudeau

US risks sparking global trade war

The prime minister said the UK's steel and aluminium industries were "hugely important" to it.

"The most likely outcome ... could be protracted negotiations during which both the United States and the European Union lock horns but do not take ever more dramatic headline-grabbing protectionist steps", Schmieding said. Ross offered little detail about what the enumerated states could do to have the tariffs lifted. It will dispute the legality of USA tariffs on EU steel and aluminium and Chinese legislation that "undermines property rights of European companies", EU trade commissioner Cecilia Malmstroem said.

Trump's antagonistic trade policies - and specifically the steel and aluminum tariffs - drew worldwide denunciation.

Allies including Canada and the European Union are threatening retaliatory tariffs. Europe, along with Canada and Mexico had been granted a temporary reprieve since President Trump first announced the tariffs in March.

The EU plans to tax things like whiskey and Harley motorcycles as it strikes back at the US.

"This is a catastrophic blow to the sector and steel workers across the country", she said.

Other countries, including Japan, America's closest ally in Asia, are already paying the tariffs. -European animosity over the Iraq war in 2003 escalated to the point that some conservative USA lawmakers wanted French fries renamed in the House of Representatives cafeteria.

"They report a really high surplus on trade with us".

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The measures, which target pork legs, apples, grapes and cheese as well as steel and other products, will be in place until the USA government eliminates its tariffs, Mexico's Economy Ministry said.The S&P 500's packaged foods and meats industry sub-index fell 2%, with shares of meat producer Tyson Foods Inc falling 3.9%, Campbell Soup Co 2.6% and spice maker McCormick & Co Inc 2.9%.

German Finance Minister Olaf Scholz told reporters he had let Mnuchin know the tariffs were "unacceptable".

"Unilateral responses and threats over trade war will solve nothing of the serious imbalances in world trade. So, we will immediately introduce a settlement dispute with the WTO and will announce counter-balancing measures in the coming hours", Juncker said in a speech in Brussels.

The EU threatened to make good on a threat it issued in March to impose tariffs on imports from the US that is 10 pages long, including everything from corn and tobacco, to T-shirts, Levi's jeans, bourbon, motor boats and various forms of steel. The metal tariffs will come into force at midnight (04:00 GMT) on Friday. A 1960s-era law allows the president to impose tariffs and other protectionist measures for industries deemed vital to national security.

The U.S. administration also launched a national security investigation last week into auto and truck imports, using the same 1962 law it has applied to curb incoming steel and aluminum."The Trump administration seems to regard overt threats, including tariffs and repudiation of previous agreements, as a key element for gaining leverage in trade negotiations", said Eswar Prasad, a former head of the International Monetary Fund's China division and now a professor at Cornell University. He repeatedly pledges to reduce the US trade deficit, which shows the country imports hundreds of billions of dollars more than it exports.

U.S. Commerce Secretary Wilbur Ross and U.S. Trade Representative Robert Lighthizer are attending meetings Wednesday and Thursday at the Organization for Economic Cooperation and Development (OECD) in Paris.

Further economic negotiations should be aimed toward mutual benefit and "not waging a trade war", the statement said.

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