CLOSE President Donald Trump said trade wars were "good," expressing defiance amid global criticism of his plan to slap tariffs on steel and aluminum imports. Newslook 
 
 President Donald Trump and first lady Melania Trump. (Photo: Chuck Burton, AP) 
 
 In the first rumblings of a potential trade war, President Trump punched back Saturday at Canadian and European warnings that his steel tariff plan is "unacceptable" by threatening to slap a tariff on European cars if they try to take him on. 
 
 The latest volley out of Mar-a-Lago came two days after Trump first announced plans to impose a U.S. tariff of 25% on steel imports and 10% on aluminum. 
 
 That, in turn, was met by a sharp rejection from Canadian Prime Minister Justin Trudeau who called the tariffs "absolutely unacceptable" and said they would cause serious disruption of markets on both sides of the border. 
 
 If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S. They make it impossible for our cars (and more) to sell there. Big trade imbalance! — Donald J. Trump (@realDonaldTrump) March 3, 2018 
 
 His foreign minister, Chrystia Freeland, warns that Canada is prepared to "take responsive measures to defend its trade interests and workers," Reuters reports. 
 
 European leaders also weighed in. Jean-Claude Juncker, president of the European Commission, told the German media that the EU would respond with tariffs on such U.S. products as Harley-Davidsons, Kentucky bourbon and bluejeans. 
 
 “None of this is reasonable, but reason is a sentiment that is very unevenly distributed in this world,” Juncker said. 
 
 From his weekend perch, Trump made it clear that such talk would only stoke American resolve. 
 
 "If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S.," he tweeted. "They make it impossible for our cars (and more) to sell there. Big trade imbalance!" 
 
 The tweet underscored his observation on Friday that when the U.S.is losing "many billions" on trade with virtually every trading partner "trade wars are good and easy to win." 
 
 Dieter Kempf, head of the Federation of German Industries, warns that Trump was risking a “spiral of protectionism” that in the end would cost American jobs, as well as those in Germany and the rest of Europe, The New York Times reported. 
 
 For now, Canada was feeling the most acute pressure as the top supplier to the United States of both steel and aluminum, exporting nearly 90% of its steel to the U.S. 
 
 "Any disruption to this integrated market would be significant and serious, Trudeau said. 
 
 Prime Minister Justin Trudeau stands during question period on Parliament Hill in Ottawa on Feb. 28, 2018. (Photo: Sean Kilpatrick, AP) 
 
 These proposals, he added, "are going to hurt them every bit as much as they are going to hurt us, and we are confident we're going to continue to be able to defend Canadian industry." 
 
 While Trump has routinely singled out China for its steel and aluminum exports to the U.S., the president, in his off-the-cuff remarks on Thursday, did not say specifically whether Canada and/or Mexico would be subject to the new measures. 
 
 If he aims only at China, however, he would hit a mighty small target since China accounts for only 2.9% of U.S. steel imports. 
 
 Canada, on the other hand, is the biggest supplier, accounting for 16% of U.S. steel imports, or $4.3 billion in 2017, followed by South Korea, Mexico, Brazil and China, according to data compiled by Wood Mackenzie. 
 
 The Wall Street Journal, quoting an unidentified senior White House official, reports that Trump plans to apply his tariffs globally and won't exempt allies such as Canada and Europe. 
 
 That is hardly surprising, given Trump's ire in the past over Canada's export policies. 
 
 Last year, in a flareup over milk pricing and softwood lumber, the president took a swipe at the neighbors to the north, warning people not to be fooled by Canadians' friendly demeanor, the The Globe and Mail reported. 
 
 "Canada's been very rough on the United States. Everyone thinks of Canada as being wonderful, and so do I, I love Canada," he said. "But they've outsmarted our politicians for many years." 
 
 
 
 Read or Share this story: https://usat.ly/2HXKIHg ||||| European Commission President Jean-Claude Juncker, left, prepares to shake hands with China's Foreign Minister Wang Yi prior to a meeting at EU headquarters in Brussels, Friday, June 1, 2018. The European... (Associated Press) 
 
 European Commission President Jean-Claude Juncker, left, prepares to shake hands with China's Foreign Minister Wang Yi prior to a meeting at EU headquarters in Brussels, Friday, June 1, 2018. The European Union and China say they will deepen ties on trade and investment and that they fully support global... (Associated Press) 
 
 European Commission President Jean-Claude Juncker, left, prepares to shake hands with China's Foreign Minister Wang Yi prior to a meeting at EU headquarters in Brussels, Friday, June 1, 2018. The European Union and China say they will deepen ties on trade and investment and that they fully support global... (Associated Press) European Commission President Jean-Claude Juncker, left, prepares to shake hands with China's Foreign Minister Wang Yi prior to a meeting at EU headquarters in Brussels, Friday, June 1, 2018. The European... (Associated Press) 
 
 WASHINGTON (AP) — Countries around the world fought back Friday against President Donald Trump's decision to slap tariffs on steel and aluminum imports, announcing retaliatory countermeasures and warning that the U.S. plan will hurt U.S. consumers. 
 
 French President Emmanuel Macron said in a statement Friday that he told Trump in a phone call that the new U.S. tariffs on European, Mexican and Canadian goods are illegal and a "mistake." Macron pledged the riposte would be "firm" and "proportionate" and in line with World Trade Organization rules. 
 
 Germany's Volkswagen, Europe's largest automaker, warned that the decision could start a trade war that no side would win. The European Union and China said they will deepen ties on trade and investment as a result. 
 
 "This is stupid. It's counterproductive," former British trade minister Francis Maude told the BBC. 
 
 "Any government that embarks on a protectionist path inflicts the most damage on itself," he added. 
 
 Macron warned that "economic nationalism leads to war. This is exactly what happened in the 1930s." 
 
 Trump's move makes good on a his campaign promise to crack down on trading partners that he claims exploit poorly negotiated trade agreements to run up big trade surpluses with the United States. Commerce Secretary Wilbur Ross says the tariffs — 25 percent on imported steel, 10 percent on aluminum from Canada, Mexico and the European Union — take effect Friday. 
 
 The import duties threaten to drive up prices for American consumers and companies and are likely to heighten uncertainty for businesses and investors around the globe. Stock prices slumped amid fears of a trade war, with the Dow Jones industrial average falling nearly 252 points, or 1 percent, to 24,415.84. 
 
 Mexico complained that the tariffs will "distort international trade" and said it will penalize U.S. imports including pork, apples, grapes, cheeses and flat steel. 
 
 In Canada, Prime Minister Justin Trudeau said Thursday that the tariffs were "totally unacceptable." Canada announced plans to slap tariffs on $12.8 billion worth of U.S. products, ranging from steel to yogurt and toilet paper. 
 
 "Canada is a secure supplier of aluminum and steel to the U.S. defense industry, putting aluminum in American planes and steel in American tanks," Trudeau said. "That Canada could be considered a national security threat to the United States is inconceivable." 
 
 Trump had originally imposed the tariffs in March, saying a reliance on imported metals threatened national security. But he exempted Canada, Mexico and the European Union to buy time for negotiations — a reprieve that expired at midnight Thursday. 
 
 Other countries, including Japan, America's closest ally in Asia, are already paying the tariffs. 
 
 "This is protectionism, pure and simple," said Jean-Claude Juncker, president of the European Commission. 
 
 The EU earlier threatened to counterpunch by targeting U.S. products, including Kentucky bourbon, blue jeans and motorcycles. David O'Sullivan, the EU's ambassador in Washington, said the retaliation will probably be announced in late June. 
 
 Trump had campaigned for president on a promise to crack down on trading partners that he said exploited poorly negotiated trade agreements to run up big trade surpluses with the U.S. 
 
 The U.S. tariffs coincide with — and could complicate — the Trump administration's separate fight over Beijing's strong-arm tactics to overtake U.S. technological supremacy. Ross is leaving Friday for Beijing for talks aimed at preventing a trade war with China. 
 
 The world's two biggest economies have threatened to impose tariffs on up to $200 billion worth of each other's products. 
 
 The steel and aluminum tariffs could also complicate the administration's efforts to renegotiate the North American Free Trade Agreement with Canada and Mexico, a pact that Trump has condemned as a job-killing "disaster." 
 
 The White House released a statement from Trump Thursday night saying of NAFTA, "Earlier today, this message was conveyed to Prime Minister Justin Trudeau of Canada: The United State (sic) will agree to a fair deal, or there will be no deal at all." 
 
 Trump had offered the two U.S. neighbors a permanent exemption from the steel and aluminum tariffs if they agreed to U.S. demands on NAFTA. But the NAFTA talks stalled. 
 
 Ross said there was "no longer a very precise date when they may be concluded," and that as a result, Canada and Mexico were added to the list of countries hit with tariffs. 
 
 Likewise, the Trump trade team sought to use the tariff threat to pressure Europe into reducing barriers to U.S. products. But the two sides could not reach an agreement. 
 
 The import duties will give a boost to American makers of steel and aluminum by making foreign metals more expensive. But companies in the U.S. that use imported steel will face higher costs. 
 
 And the tariffs will allow domestic steel and aluminum producers to raise prices, squeezing companies — from automakers to can producers — that buy those metals. 
 
 House Speaker Paul Ryan and several leading Republicans in Congress were critical of the administration's tariff action. Ryan said there are better ways to help American workers and consumers and that he plans to work with Trump on "those better options."
– A full-blown trade war is looking ever more likely with President Trump threatening US allies upset with the tariffs on steel and aluminum imports he announced just days earlier, USA Today reports. "If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S. They make it impossible for our cars (and more) to sell there. Big trade imbalance!" Trump tweeted Saturday from Mar-a-Lago. The president announced a 25% tariff on imported steel and 10% tariff on imported aluminum on Thursday. Both Canada and the EU called the tariffs "unacceptable," and the EU threatened to retaliate in the form of tariffs on Harley-Davidson motorcycles, Kentucky bourbon, and jeans. Canada also threatened retaliation of its own. The US was the largest market for cars exported from the EU in 2016, importing over 1 million, CNBC reports. According to the Washington Post, Trump's newest tariff threat mostly targets Germany, which exported $23 billion in cars to the US in 2016. Germany's BMW and Volkswagen employ thousands of workers in factories in the US, and critics say a tariff on their cars would only hurt US consumers. Trump said during his presidential campaign that he wanted to fix trade imbalances with China and Mexico. But his announced tariffs on aluminum and steel would mostly affect Canada, the UK, Germany, South Korea, Turkey, and Japan—all allies of the US. “None of this is reasonable, but reason is a sentiment that is very unevenly distributed in this world,” the president of the EU says. Trump on Friday called trade wars "good and easy to win."