Brazil's Bolsonaro asks Trump to be more understanding on tariffs

The US government said it may slap punitive duties of up to 100pc on $2.4bn of imports from France of champagne handbags cheese and other products

U.S. President Donald Trump announced on Monday he would be immediately restoring steel and aluminum tariffs on Brazil and Argentina.

"Trump weighed in today during a meeting with North Atlantic Treaty Organisation leaders in London, saying: "[France is] starting to tax other people's products so therefore we're going to tax them. "It is the place to settle a trade dispute", the spokesperson added.

The World Trade Organisation formally authorised the USA on Monday (14 October) to impose tariffs on up to $7.5 billion worth of European Union exports after an arbitrator's decision over subsidies to planemaker Airbus.

BNN Bloomberg Commentator Andrew McCreath discusses Trump's comments regarding the U.S. The European Commission did not immediately react to the United States trade threat.

"The value of any United States action through either duties or fees may take into account the level of harm to the U.S. economy resulting from the DST", the USTR added. It would also further squeeze exporters hit by a Russian embargo on European foods. "The China trade deal is dependent on one thing: Do I want to make it?"

However, the US Chamber of Commerce warned that the new set of tariffs "may elicit additional rounds of retaliatory measures that represent a substantial risk to US economic growth and job creation". "It's got to be right", he said. "I watch: making the proper deal".

The comments follow a series of other protectionist moves by the president this week.

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Despite widespread complaints about the impact of the tariffs on U.S. businesses and consumers, as well as the hit to farmers who have been the target of retaliation from trading partners, Trump claimed in his tweet on Monday that Washington has taken in "massive amounts of money" from the tariffs.

Trump said he has "no deadline" for the trade talks, indicating that he does not mind if the negotiations become protracted.

The president is now facing impeachment proceedings in the House of Representatives over claims he improperly sought help from Ukraine to boost his chances of re-election in 2020.

It also found that is "inconsistent with prevailing tax principles on account of its retroactivity, its application to revenue rather than income, its extraterritorial application and its goal of penalizing particular US technology companies", the US Administration said in a statement. Trump, however, has faced political pressure from China hawks in Congress to support protests in Hong Kong and a forthcoming bill related to Beijing's crackdown on ethnic Muslims in Xinjiang that prompted the "unreliable entities" threat.

And while the fights have hit farmers - a key constituency for Mr Trump - polls suggest their support remains resilient.

She said farmers are aware of the monumental changes the Trump administration is trying to achieve with China and are focused instead on trying to secure other deals, like the US-Mexico-Canada Agreement, which the three countries completed past year but has yet to pass Congress.

For its part, Argentina's labor and production ministry said in a statement that it had asked the U.S. for clarification about the announcement and was looking into possible "joint action" with Brazil in response.

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