BHP chief says Trump's tariffs a 'black day' for world trade

ExportNZ executive director Catherine Beard has warned the biggest impact for the steel and aluminium sectors may not

President Trump said Monday that a trade war was unlikely despite recently announced tariffs on steel and aluminum.

In the meantime, Trump noted that the U.S.is trying to renegotiate the NAFTA trade deal with Canada and Mexico, in whcih he hinted at laying off on the proposed tariffs.

On Monday, Trump declared that he will use the tariffs as leverage in the negotiations to update NAFTA with Canada and Mexico, California's two largest export markets. "How much further proof do we need that the USA government is bargaining in bad faith?" Massive relocation of companies and jobs.

Republicans and conservative groups have come out strong against President Donald Trump's proposed new tariffs.

The president also wrote that Canada must treat US farmers better and Mexico must do more to stop drugs from getting into the United States. "Highly restrictive. Mexico must do much more on stopping drugs from pouring into the U.S". "Millions of people addicted and dying", Trump wrote.

But he added: "If they aren't going to make a fair NAFTA deal, we're just going to leave it this way".

Trump tweeted on Friday that a trade war would be "good, and easy to win".

Trump has been railing about this dynamic for decades, and on Monday he showed no sign of backing down from his hard-line stance.

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The three NAFTA partners - Canada, Mexico and the United States - have been locked in talks aimed at possibly revamping the trade deal, but no clear framework has so far emerged.

"We [BHP] will live and die by what happens with free trade", he said.

Still, he dismissed concerns about a trade war.

He also cooled down some of the rhetoric coming from Trump about a potential trade war.

"Canada would view any trade restrictions on Canadian steel and aluminum as absolutely unacceptable", the statement read.

If the USA can impose these tariffs on steel and aluminum on the basis of "national security", someone else is sure to try for tariffs on food, or clothing, or various other products on the same basis.

U.S. President Donald Trump and first lady Melania Trump meet with Israel Prime Minister Benjamin Netanyahu and Sara Netanyahu in the Oval Office of the White House March 5, 2018 in Washington, DC. China's National People's Congress spokesperson Zhang Yesui has already threatened to retaliate if the U.S. goes ahead with the proposed steel/aluminium tariffs.

31% of people surveyed by Quinnipiac University said they support the steel and aluminum tariffs.