CANADA/EU/MEXICO/TARIFFS/TRUMP AS PRESIDENT/WTO: “The U.S. will impose tariffs on steel and aluminum imports from Canada, Mexico and the European Union starting on Friday [6-1-18], the Trump administration said, raising the specter of trade war with some of Washington’s closest allies, who said they would retaliate. Mexico’s Economy Ministry quickly said it would target several U.S. goods in response, including some steel and pipe products, lamps, berries, grapes, apples, cold cuts, pork chops and various cheese products ‘up to an amount comparable to the level of damage’ linked to the U.S. tariffs. Canada, in anticipation of the tariffs, had pledged to impose retaliatory measures. Prime Minister Justin Trudeau is expected to address the U.S. tariffs Thursday [5-31-18] afternoon in a press conference in Ottawa. The EU has said it is also planning to hit back with its own levies after preparing a list of U.S. exports worth €6.4 billion ($7.5 billion) that could be slapped with levies, up to €2.8 billion of which could go into effect staring June 20. The EU said it would also launch a case against U.S. measures at the World Trade Organization on Friday.”
-William Mauldin, “U.S. Tariffs Prompt Anger, Retaliation From Trade Allies,” The Wall Street Journal, May 31, 2018 11:45 am