U.S. 'playing risky game' with metal tariffs, says EU

Canadian Prime Minister Justin Trudeau declines to meet Trump because of US precondition

The group's highly unusual public rebuke of one of its own members called out the USA for hefty steel and aluminum tariffs the Trump administration imposed in recent days on its G7 friends.

"I'm sure that the president looks forward to coming to Canada and meeting all the other leaders with many, many important issues going on throughout the world".

The initial tariffs were announced in March after President said that the United States had been unfairly treated in trade with its neighboring and oversees partners.

U.S. Commerce Secretary Wilbur Ross is expected to meet Chinese Vice Premier Liu He on Sunday, a U.S. government official said, as officials from the world's two biggest economies try to calm an escalating trade spat that has rattled financial markets.

Washington and Beijing have threatened tit-for-tat tariffs on goods worth up to $150 billion each.

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"The problem is that by taking that kind of unilateral action the United States is undermining the principle of multilateralism in global trade, so it becomes more hard to deal with other concerns ― like trade and market access practices in China", Dombrovskis said in an interview. The issue about tariffs being slapped on the European Union creates a problem.

On Thursday, Trudeau hit back at punishing United States tariffs on steel and aluminium with Can$16.6 billion (US$12.8 billion) in duties on U.S. goods, and accused American President Donald Trump of lacking "common sense".

China's exports have mushroomed since joining the World Trade Organisation in 2001, making it the world's second-largest economy.

The tariffs his administration has imposed - 25 percent on imported steel, 10 percent on aluminum from Canada, Mexico and the European Union - threaten to drive up prices for American consumers and companies and heighten uncertainty for businesses and investors around the globe. The metal tariffs will come into force at midnight (04:00 GMT) on Friday.

French Finance Minister Bruno Le Maire said the United States has only a few days to avoid sparking a trade war with its allies and it is up to Washington to make a move to de-escalate tensions over tariffs.

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United States companies, too, have warned about the negative impact of the tariffs which will raise their costs.

When asked whether a trade war has already started, Dombrovskis said: "That is certainly not the vocabulary we are using, we keep our communications channels open. we need to push for a solution on this particular issue". Canada unveiled a package of counter-tariffs on U.S. imports valued at Can$16.6 billion (US$12.8 billion). "It's Donald Trump's failure to understand the implications for the USA and world economy of his isolationist policies".

Japanese Finance Minister Taro Aso said that direct discussions between Prime Minister Shinzo Abe and Trump may help resolve the issue, though Japan has refused to accept import quotas.

She said: "This is further weakening the transatlantic relations and it also increases the risk of severe turbulences in the markets globally".

Industry experts have warned that EU retaliation could encourage the Trump administration to strike back with more trade barriers on items like European cars.

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