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Global Markets: China fires back at Trump and the U.S.

By Commodity News Service Canada
WINNIPEG, March 23, 2018 (CNS) – The following is a glance at
the news moving markets in Canada and globally.
China wanted the United States Friday to ‘pause on the
brink of a precipice’ as it threatened repercussions on U.S.
President Donald Trump for imposing tariffs on imports from
China worth US$60 billion. Beijing has responded by placing
tariffs worth up to US$3 billion on 128 U.S. imports, including
fruit, wine and steel pipes.
Trump’s steel and aluminum tariffs met a barrage of
criticism at a World Trade Organization meeting Friday, as the
European Union, Brazil, Japan, Australia and other joined a
debate started by China and Russia. The EU representative told
the meeting that the tariffs could not be justified by a claim
to national security and that the U.S. was making the claim to
keep its industry alive and prosperous, a Geneva trade official
said.
Trump threatened to veto Congress’ newly passed US$1.3
trillion spending bill over immigration issues Friday. The
surprise move could force the federal government into shutdown
later in the day when funding expires. On Thursday, the White
House had said Trump was expected to sign the bill into law.
Trump later tweeted criticizing it for not fully funding his
proposed wall on the Mexican border or addressing Dreamer
immigrants.

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