Trade tensions rise amid pushback from China, EU, Japan [CBS News]
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Source: CBS News
Trade tensions rise amid pushback from China, EU, Japan Financial markets were cautious amid pushback from China, the European Union and Japan on trade issues and remarks by President Donald Trump on Thursday expressing doubt that U.S. talks with Beijing would succeed . China on Friday denied reports it would offer to slash its trade surplus with the U.S. by $200 billion, according to Reuters. Adding to the tensions, the EU told the World Trade Organization it is ready to deploy retaliatory measures against U.S. tariffs on steel and aluminum, which would include European tariffs on motorcycles and bourbon. And Japan is threatening to go to the WTO to protest the metal tariffs. Mr. Trump imposed the tariffs in March, arguing that reliance on imported metals posed a threat to America's national security. He exempted the European Union, Canada, and Mexico — but not Japan — until June 1. Mr. Trump's remarks yesterday came weeks after he declared that a trade war would be "easy to win" a
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