Tariffs on EU Mexico and Canada widen trade rift
The United States imposes 25 percent steel and 10 percent aluminum tariffs on the EU Mexico and Canada prompting swift retaliation threats from Europe and allies. Markets drop on fears of a full blown trade war as Commerce Secretary Wilbur Ross asserts the penalties take effect today amid continued NAFTA negotiations and negotiators warn of longer talks.
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North Korea and US edge toward summit amid cautious optimism
Pompeo said progress toward a potential June 12 Singapore summit with North Korea is positive though not guaranteed. Trump described talks as moving well. Kim Yong Chol’s White House visit marks a rare high level sign of easing tensions after tests, with possible second or third meetings if a denuclearization deal is reached.
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