As NAFTA weighs, Trump's tariffs drive auto issues in US

"That the government should remain firm in its positions", he said.

"What we're encouraging the administration to do is to focus on what is clearly a legitimate problem and to be more surgical in its approach so we can go after the true abusers without creating any kind of unintended consequences or collateral damage", Ryan said during a news conference.

"Trump plainly stated that tariffs will only come off if Canada signs a NAFTA agreement to his liking", said Dias.

The meeting, in the minds of its organizers, would help fully illustrate the economic pitfalls of tariffs on American industries.

However, Net income (NI) is a corporation's total earnings (or profit); net income is computed by taking revenues and subtracting the costs of doing business such as depreciation, interest, taxes and other expenses.

"Europe is the new China - we have to think out the box now".

Trump's trade advisers, like Peter Navarro, the director of the White House trade council, have said there will be no exemptions, though Trump suggested on Twitter on Monday morning that Canada and Mexico could receive some as part of ongoing trade negotiations.

The Canadian prime minister called Trump in the evening.

The messages seem to be leverage for his administration's renegotiation of the North American Free Trade Agreement, which covers trade between the United States, Canada and Mexico.

If U.S. President Donald Trump goes ahead with sweeping tariffs on steel and aluminium imports, it could lower profits for companies making everything from pickup trucks to canned soup, or result in higher prices for consumers.

But Ryan's concerns were shared by other Republican lawmakers, who said the tariffs were a threat to the US economy.

A U.S. Department of Commerce report sent to the White House three weeks ago recommended a global tariff of at least 24% on all steel imports from all countries, or a tariff of at least 53% on all steel imports from 12 main steel importing countries, or a quota on all steel products from all countries equal to 63% of each country's 2017 exports to the U.S.

"We are not looking to get into trade wars".

Simmons, the Illinois steelworker, thought this week of the workers at his U.S. Steel plant, who have struggled to find work elsewhere.

Fred Bergstein, who has held top economics posts in a series of U.S. administrations and is a senior fellow at the Peterson Institute for International Economics thinktank, warned on Tuesday that the proposed tariffs would undermine Washington's efforts to rein in China by alienating potential allies.

"Rio Tinto has recently been growing its market for Kitimat aluminium in the U.S., and given that, ironically, our countries are currently attempting to renegotiate a new fair trade agreement under NAFTA, this move by the troubling to our members".

Edward Jones analyst Brittany Weissman said the aluminium tariff would raise packaging costs for beer brewers, with Molson Coors Brewing Co likely heavily affected because the U.S. market is its largest.

Republicans were frustrated and taken by surprise by the timing of the president's announcement last week that steel and aluminum tariffs were imminent.

REPORTER: "How about a trade war?"

FILE PHOTO: A worker inspects wire rod at TIM stainless steel wire factory in Huamantla, in the Mexican state of Tlaxcala October 11, 2013.

Companies that signed the letter included Alton Steel, AK Steel Corp, Cleveland-Cliffs Inc, TimkenSteel, Nucor, and ArcelorMittal USA, Reuters reported.

The larger question is whether Mr Trump had weighed all factors before announcing the move, from which the advantages may be lopsided domestically.

Trudeau's office said he "registered his serious concern" about the tariffs in a conversation with Trump Monday, saying they "would not be helpful to reaching a deal on NAFTA". He's due to campaign for the GOP candidate, Rick Saccone, on Saturday, and is widely expected to tout his decision on steel.

"We are the leading primary metal supplier for those products that are used to manufacture for example the Ford F150", said Gagnon.

While Republicans in Washington tend to shy away from fights with the president, this time they're escalating the feud.

Prime Minister Justin Trudeau meets the Afghan Dreamers team in the Library of Parliament on Parliament Hill in Ottawa on Wednesday, Feb. 28, 2018.

"If they want to do something, we'll just tax their cars that they send in here like water", Trump has said, lamenting European "trade barriers that are worse than tariffs".