Japan trade minister calls for calm heads over USA tariffs

A WTO spokesman has said they cannot comment on the tariff announcement

A WTO spokesman has said they cannot comment on the tariff announcement

"As a close security and trade partner of the USA, the European Union must be excluded from the announced measures", she tweeted after bilateral and trilateral meetings.

European Trade Commissioner Cecilia Malmstrom said on Thursday that the European Union was a close ally of the United States and should be exempt from impending USA metals tariffs.

"No immediate clarity on the exact United States procedure for exemption however, so discussions will continue next week".

After meetings with USA trade envoy Robert Lighthizer in Brussels, EU and Japanese trade officials said negotiations would need to continue.

However, he said "real friends" of the United States could win waivers from the measures, which come into force after 15 days.

Brussels has gone the furthest in fighting back against Washington's shock measures, loudly announcing a list of USA products to hit with countermeasures if its exports are affected by the tariffs. If they drop their horrific barriers & tariffs on USA products going in, we will likewise drop ours.

Japanese Trade Minister Hiroshige Seko said he had expressed his country's concern to Mr Lighthizer and warned of major market disruption. "Big Deficit. If not, we Tax Cars etc. FAIR!"

Trump signed an order for the 25 per cent tariffs on steel imports and 10 per cent for aluminium at the White House on Thursday to counter cheap imports, especially from China, which he described as "an assault on our country".

In announcing the measures, European Commission head Jean-Claude Juncker taunted Trump, saying the EU could match "stupid with stupid".

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China is on a long march to modernization and it has no need or intention to replace the United States' worldwide role, Yi said. The tariffs would "seriously impact the normal order of global trade", the ministry said.

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Lighthizer made no public comments following the Saturday talks.

This progress was "unexpected" and a source of cautious optimism on solving the tariff row, an European Union official said on condition of anonymity.

With tensions at a peak, the European Union had sought to keep low expectations for any breakthrough on Saturday.

European Commission Vice President Jyrki Katainen warned Washington on Friday not to expect any concessions to win an exemption.

From Japan and South Korea to Australia and Europe, officials have lined up to seek exemptions from President Donald Trump's tariffs on U.S. steel and aluminium imports, while Chinese producers called on Beijing to retaliate in kind. The tariffs would "seriously impact the normal order of global trade", the Ministry of Commerce said.

The EU is also maintaining a threat of counter-measures that would target US imports ranging from maize to motorcycles, and may publish its list next week to allow industry and other interested parties to give their input.

Complicating matters, Trump indicated that the sparing of Australia was linked to an unspecified "security agreement" outside of trade policy.

"We call for calm-headed behavior", he told reporters in Brussels.

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