G7 Allies Vow To Fight US Tariffs, See Threat To Growth
The United States' allies in the G7 vowed on Thursday to push back against Washington's decision to impose tariffs on their steel and aluminum exports, saying as they gathered for a meeting that the move threatens global growth.
The escalating trade conflict between the United States and many key allies will dominate the three-day meeting in Canada of financial leaders from the Group of Seven industrialised nations that began on Thursday, with US Treasury Secretary Steven Mnuchin the top target for their complaints and lobbying.
The United States on Thursday said it was moving ahead to impose tariffs of 25% on steel imports and 10% on aluminum, starting at midnight (0400 GMT on Friday), ending months of uncertainty about potential exemptions and sending a chill through financial markets.
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