European Union leaders to devote summit session to U.S. trade threat

USA Wall Street- Finanzmärkte in Panik EP

Mexico threatened Tuesday to retaliate against President Donald Trump's planned steel and aluminum tariffs by hitting the most "politically sensitive" United States exports with tariffs of its own, the latest signal of a brewing trade war.

The departure of Gary Cohn, seen as a bulwark against Trump's economic nationalism, hit shares, oil and the dollar, as investors saw an increased likelihood of tit-for-tat trade measures that would depress global growth.

Earlier, the EU's trade commissioner confirmed that the EU's counter-measures would include tariffs on US steel and agricultural products, as well as other products like bourbon, peanut butter, cranberries and orange juice.

"But we are fair and reciprocal traders and the World Trade Organization I think needs to change with the times", he said.

The U.S. action will also pose a great threat to the current rule-based global system.

Leicester star Mahrez confirms Facebook hacked for retirement post
On Saturday, Mahrez scored a superb free-kick deep into stoppage time to earn Leicester a 1-1 home draw with Bournemouth . It focuses on Mahrez's goal against Bournemouth and how it "served as a timely reminder of the Algerian's star quality".

"We are eager not to escalate this", European Union trade commissioner Cecilia Malmstrom said.

In a sign of growing worldwide alarm at the possible consequences of Trump's protectionist measures, Roberto Azevedo, the WTO's director general, said "in the light of recent announcements on trade policy measures, it is clear we now see a much higher and real risk of triggering an escalation of trade barriers around the world".

Trump sparked global outrage last week by announcing he would impose tariffs of 25 percent on all imported steel and 10 percent on aluminum to protect domestic industries, citing a rarely invoked national security section of United States trade law.

"We should have a clear objective in mind to keep world trade alive and if necessary to protect Europeans against trade turbulence, including by proportionate responses in accordance with the WTO", he said.

The WTO has been reluctant to rule against that argument.

'The trade war hurts them, it doesn't hurt us'
So China doesn't send us two percent; they send us a much, much higher level than that, but it's called transshipping. "Paper. We are looking to make sure that USA companies can compete fairly around the world", Mnuchin said at a House hearing.

He also said Trump's view that trade wars were good and easy to win was wrong.

"We have serious doubts about whether this measure is WTO compatible".

Mr Azevedo's warning was echoed by French president Emanuel Macron, who said yesterday the planned tariffs amounted to "economic nationalism" and that all sides would lose.

A White House trade adviser called that idea "provocative", but didn't outright say Trump wouldn't do such a thing.

Jennifer Hillman, a former member of the WTO's appellate body who teaches law at Georgetown University, said the European Union had a strong case that Mr Trump's proposed action was akin to a safeguard.

Cortana May Soon Arrive In Outlook For iOS And Android
The really cool news is that Microsoft is finally just going to integrate Cortana into the main Outlook apps for iOS and Android. While we are short on the details about Cortana being integrated with Outlook, we do know a few things it would allow you to do.

Related News:

  • Facebook Messenger Lite finally gets video chatting

    Facebook Messenger Lite finally gets video chatting

    Those who use this lightweight app to stay in touch with friends and family can now make video calls using Messenger Lite . BTW, Android Pay is now Google Pay , and you can use this trick to get Google Pay to work on your Android Wear smartwatch.
    Before Trump Announced Tariffs, Icahn Sold Off Millions In Steel-Related Stocks

    Before Trump Announced Tariffs, Icahn Sold Off Millions In Steel-Related Stocks

    During the announcer's roll call of famous guests, Icahn was called Trump's "good friend", according to the New Yorker . Before that, he had not actively traded any Manitowoc stock since January 2015 , according to regulatory filings.
    Florida Senate approves bill preventing anyone under 17 from marrying

    Florida Senate approves bill preventing anyone under 17 from marrying

    Blair questioned motives from there, saying, "Why wasn't it 5 percent from the beginning?" "I'm talking to Republicans", he said. Whitfield said he plans to hold a hearing on the bill Tuesday. "But the way the Senate arrived at 4 percent was to cut things".
  • Three demerit points for Warner, de Kock to contest charges

    Three demerit points for Warner, de Kock to contest charges

    The vice-captain will be fined 75 percent of his match fee and handed three demerit points, Cricket Australia said on Wednesday. Australia's David Warner gets quick runs during the first Test against the Proteas in Durban on 1 March 2018.
    Govt running away from debate on bank scams: Congress

    Govt running away from debate on bank scams: Congress

    The TMC too joined the bank fraud issue while the TDP demanded a special status for Andhra Pradesh. The bill has been brought to take possession of the assets of a fugitive, as well as Benami assets.
    Teen who escaped Turpin home posted videos under alias

    Teen who escaped Turpin home posted videos under alias

    Some of the 13 siblings are "starting to make plans for their future", Corona Mayor Karen Spiegel told ABC News last month. The 17-year-old made the account during her years in captivity and sang songs on the channel that she wrote herself.
  • Death toll due to flu now stands at 184 in Arkansas

    Death toll due to flu now stands at 184 in Arkansas

    According to CDC, 9 percent of deaths in the USA were caused by diseases such as pneumonia and flu. The number of people going to the doctor with symptoms of the flu has continued to decline.
    Karnataka Lokayukta stabbed in Office: Out of danger

    Karnataka Lokayukta stabbed in Office: Out of danger

    Veteran politician Deve Gowda has also hit out at the Karnataka govt for failing to provide proper security to the Lokayukta. Shetty was stabbed multiple times and is reportedly in a critical situation, media reports said.
    Bugatti Chiron Sport Unveiled, Gets A Carbon Fibre Windscreen Wiper

    Bugatti Chiron Sport Unveiled, Gets A Carbon Fibre Windscreen Wiper

    The Bugatti Chiron Sport draws power from the same 8-litre W16 engine producing a massive 1,479bhp as the standard Chiron . Unveiled in Geneva, it's a full five seconds faster than the standard Chiron around the Nardo handling circuit in Italy.
  • Kimmel slams Trump over Oscars ratings jab

    Kimmel slams Trump over Oscars ratings jab

    On Live! on Tuesday night, Kimmel slammed Trump once more , telling the story of how he came to see the tweet . As Kimmel said, it's about "a monster that has sex with a woman who can't talk about it".
    Android P will turn your phone as a Bluetooth Keyboard or Mouse

    Android P will turn your phone as a Bluetooth Keyboard or Mouse

    Google is expected to release the first version of the Android P Developer preview around mid-March . Notably, Android does not support the implementation of HID in Bluetooth stack by default.
    Wendy Williams Reveals When She Will Return to TV Following Health Hiatus

    Wendy Williams Reveals When She Will Return to TV Following Health Hiatus

    While fans are thrilled Wendy is doing well and will return to TV on March 19, it may be a different story for Kylie Jenner , 20. Feeling faint: In October Wendy passed out during a Halloween episode of her show when she was dressed as the Statue of Liberty.

Most liked

UK Financial Firms Facing Tough Brexit Hurdles from the European Union
However, the BBC said it understands President of the European Council Donald Tusk will reject the proposals. This would rely on a system of tariffs that do not adequately cover financial services.

Pa. sees 81 percent rise in ER visits for opioid overdoses
But only that of Kentucky, with a 15 percent decrease, is considered statistically significant. However, the CDC says it's seeing its highest-ever opioid-related death rates.

Liverpool a true test of Manchester United's mettle after sacking of Palace
As Carragher says, Sanchez is one of the best players in the world, but United have not got noticeably better since he arrived. YOU can watch this game live on Sky Sports Football or Sky Sports Main Event, with coverage starting at 11.30am.

Mavericks owner Mark Cuban denies 2011 sexual assault claim
Both images reportedly showed Cuban's right shoulder lowered, "and he appears to be stretching to reach his arm down". The woman who filed the report told Willamette Week that she stands by her claim.

Telangana Man Chops Off Teen Son's Hand Over Phone, Porn Addiction
A child's addiction to watching pornographic films on his smart phone triggered his father to chop off his right-hand. After returning home late, the son continued to do his usual business which led to further altercation on Monday.

Google Home gets better with voice calling in the UK
Users will also be able to set up a caller ID for their Home voice calls to make their mobile phone number if they wish. A firmware update will enable the new features and is aimed to be rolled out by Mothering Sunday, this weekend.

Supreme Court rejects definition of 'unborn' as an unborn child in Constitution
It follows a High Court ruling which stated that babies in the womb could have similar rights to children. Other constitutional rights only kick in when a child is born, lawyers for the State argued.

Even God is begging Oprah to run for president in 2020
To her surprise, the Lord made a cameo - in a cartoon voice over fashion - on Tuesday's episode of " The Late Show with Stephen Colbert ". "I'm sorry about this Oprah , I apologize".

Conrad Sangma takes oath as Meghalaya chief minister
The leader also observed that in Manipur, BJP's coalition survives with support of three NPF MLAs. The swearing-in ceremony is expected to take place on March 6.

Gitanjali top honcho Vipul Chitalia held in PNB scam
The CBI has also questioned four PNB Treasury officers, including a general manager and assistant general manager rank officers. The CBI filed a second FIR on February 15 over a Rs 4,886.72-crore fraud against Choksi's Gitanjali Group.

S Mode For Windows 10 Officially Confirmed By Microsoft
According to a report from the Italian Blog Aggiornamenti Lumia , new features might be coming soon to the Windows 10 Photos App. Some will review the privacy settings on a single screen, while others will see separate screens for each option.

Rampage Gets An Earlier Release Date And New Posters
Sources tell THR that the release date shift is in response to Disney's bumping up of Infinity War . Pic is directed by Brad Peyton who directed Johnson in the summer hit San Andreas .

Cynthia Nixon assembling staff ahead of possible run for NY governor
Nixon hasn't officially declared her candidacy, and a spokesperson claims a final decision has not yet been made. She also said during a 2017 Today interview that, "there are a lot of people who would like me to run".

In Conversation: Rupert Stadler, Audi - 2018 Geneva Motor Show
Tata-owned Jaguar Land Rover has already declared electrification of its entire vehicle range by 2020. Audi has also claimed a 0-60 mph time of 4.5 seconds and a total electric range of around 311 miles.

Geneva Motor Show: Rimac C_Two Unveiled - Specs, Features & Images
Although the word "Concept" is present in its name, the C_Two will be a production model limited to at least 150 units. The wheels are also aerodynamically created to reduce drag and downforce along with faster cooling brakes.