Trade war 'a few days away', Canada, EU warns US

United States Treasury Secretary Steve Mnuchin today faced sharp criticism from angry finance ministers of other G7 nations over the decision by the Trump administration to impose new tariffs on steel and aluminium imports.

It came during a heated meeting in the Canadian resort of Whistler where the European Union (EU) and Canada threatened to retaliate.

French Finance Minister Bruno Le Maire warned that trade war could begin in "a few days".

Mnuchin denied that the US had abandoned its leadership role in the global economy and said the strong feelings expressed by his G7 counterparts have been passed on to US President Donald Trump.

But Trump was unmoved, insisting in a message posted on Twitter that the US had been "ripped off by other countries for years on trade".

Trump argued that the tariffs will protect American steelmakers, a sector which he says is vital to national security. He complained, too, about barriers American firms face in Europe and elsewhere.

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