|

US Kudlow: Canada's Trudeau is "overreacting" to trade dispute

White House economic advisor Larry Kudlow stated on the weekend that Canadian Prime Minister Justin Trudeau is "overreacting" to the ongoing NAFTA dispute that saw the US impose hefty steel and aluminum tariffs on Canada and Mexico, as well as the EU, late last week. 

Trudeau called the tariffs an "affront to the long-standing security partnership between the two countries, and stated that it was "insulting" to hear the US imply that Canada posed a national security threat. Kudlow responded by calling the Canadian PM's statements an "overreaction".

"And that's why I regard this as more of a family quarrel. This is a trade dispute, if you will. It can be solved if people work together... To say that it is an attack on Canada is not right."

 - Larry Kudlow

Kudlow went on to say that the metals tariffs could go on "for a while", but that they also "might not", stating that the entire matter is subject to negotiation.

Author

Joshua Gibson

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

More from Joshua Gibson
Share:

Editor's Picks

GBP/USD remains offered near 1.3470

GBP/USD adds to the multi-day negative streak and retreats toward the 1.3470 zone on Wednesday, or four-week troughs. Cable’s deep correction comes on the back of the unabated recovery in the Greenback and the persistent geopolitical concerns.

EUR/USD recovers toward 1.1600 on renewed USD weakness

EUR/USD gains traction in the second half of the day on Wednesday and rises toward 1.1600. The US Dollar (USD) weakens, possibly due to another intervention in foreign exchange markets to support the Japanese Yen, and allows the pair to stretch higher. Meanwhile, the data from the US showed earlier in the day that employment in private sector rose less than expected in August.

Gold turns positive as turmoil in Yen pairs hits US Dollar

Gold (XAU/USD) stages a sharp rebound on Wednesday, reversing all its earlier losses as a sudden rise in the Japanese Yen (JPY) triggers broad selling pressure on the US Dollar (USD).

WTI advances to mid-$90.00s, fresh high since July 24 amid escalating US-Iran tensions

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – scales higher for the third straight day – also marking the fifth day of a positive move in the previous six – and climbs to a fresh high since July 24 during the Asian session on Wednesday.

Crypto Today: Bitcoin, Ethereum, XRP edge lower as renewed US-Iran tensions weigh

The cryptocurrency market is pulling back broadly on Wednesday as investors adopt a cautious stance, with Bitcoin consolidating near its short-term support at $77,000. Ethereum remains under pressure, slipping toward $2,400. Ripple is also trending lower.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.