Trump's steel and aluminum tariffs have Japan in a bind

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Trump had said Monday that Canada and Mexico would only be excluded after the successful renegotiation of the North American Free Trade Agreement.

China said it would "protect its interests", and Canadian Prime Minister Justin Trudeau said he was "confident we're going to continue to be able to defend Canadian industry".

"Truthfully, we discussed this and made a decision to wait on this", she said. "It must be that way".

In addition to stressing the necessity of a strong NAFTA for agriculture, I also highlighted the need to reduce other trade barriers such as Japan's tariff on us beef.

"Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed", Trump tweeted Monday morning.

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Many Republican lawmakers, who so far are standing by the bombastic GOP president, are extremely frustrated by Trump's tariff talk.

"If the US does unilaterally withdraw from NAFTA, all bets are off", Monex Canada's Berich said.

The Chinese Commerce Ministry called Trump's tariffs "a serious attack on normal global trade order" and said that Beijing is "firmly opposed" to the measures.

Nigh: We've had a lot of concerns about the access USA dairy farmers and poultry producers have in Canada.

The Japanese government is calling on the United States to exempt Japan from tariffs on steel and aluminum imports recently announced by President Donald Trump, but US administration figures have indicated there will be no exceptions.

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"The goal of retaliation in trade wars like this is to leverage particular congressional districts that influence the president, that influence the administration in how they're carrying out these things", said Sarah Goldfeder, a principal at Earnscliffe Strategy Group and a fellow at the Canadian Global Affairs Institute. However, other steel firms, including Nucor and AK Steel experienced marginal gains.

Mexico and Canada have been looking elsewhere for economic relationships, and they're finding them. Total trade between the countries reached $636 billion a year ago, according to U.S. government data.

The president reiterated that he would levy tariffs of 25 percent on imported steel and 10 percent on aluminum but would "have a right to go up or down depending on the country and I'll have a right to drop out countries or add countries".

Last year Rio Tinto and the other aluminium producers in Canada exported a combined 2,759,000 metric tons of aluminium, valued at over US $5.6 billion, to the U.S. "First and foremost, we will discuss the issue with the United States". Our factories have left our country, our jobs have left our country. Although Peter Navarro, director of the White House National Trade Council, said that there would be a process to spare some businesses from the metals tariffs.

The Trump administration launched a Section 232 investigation a year ago into the impact of imported steel and aluminium on the U.S.' national security.

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"We are extremely anxious about the consequences of a trade war and are urging the White House to not advance with this plan", AshLee Strong, a spokeswoman for Ryan's office, said in a statement.

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