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OTTAWA (Reuters) - Canada does not hold out much hope that Washington will quickly lift tariffs that it imposed on steel and aluminum exports and is resisting a U.S. push to agree to strict quotas, two sources familiar with the matter said. The administration of U.S. President Donald Trump imposed the sanctions on Canada and Mexico in June, citing national security reasons. Although Canada and Mexico agreed a renewed continental trade deal last week, the measures remain in place. Canada is the single largest supplier of both aluminum and steel to the United States. Washington worries that nations could try to ship supplies through Canada and pretend the metals had been produced in Canadian facilities.

In a bid to address those concerns the Canadian sterling silver soft square engravable cufflinks government - acting on a promise it made in March - on Thursday said it would impose new quotas and tariffs on imports of seven categories of steel from many countries to head off a potential rise in imports, A tariff of 25 percent will apply starting Oct, 25, 2018 to imports “in cases where the level of imports from trading partners exceeds historical norms”, a government statement said, Mexico, one of the countries targeted by the new measures, said on Thursday it “lamented” Ottawa’s decision and would seek to have its exporters’ steel products excluded from the trade protections..

Jerry Dias, head of Unifor, Canada’s largest private sector union, said the safeguards would keep out subsidized steel from China and South Korea. “It’s also sending a message to the United States,” he said in an interview. “Now that the issue is resolved, there’s no meaningful reason for the U.S. to continue to punish the steel industry on both sides of the border.”. The government of Canadian Prime Minister Justin Trudeau is pessimistic about the chances of the U.S. tariffs being removed soon, said the sources, who asked to remain anonymous, given the sensitivity of the situation.

In March, the United States signed a deal with Seoul whereby in exchange for an end to steel tariffs, South Korea agreed to cut exports by 30 percent of the past three years’ average, During talks on the new United States-Mexico-Canada Agreement (USMCA), U.S, officials told Canada they wanted a similar arrangement for steel and aluminum, one source said, declining to give specific details, Canada rejected the demand and made clear sterling silver soft square engravable cufflinks any cap on the metals would have be at a level higher than current exports to allow room for shipments to grow..

The source noted the USMCA stipulates that if Washington imposes autos tariffs on national security grounds, Canada would get a tariff-free passenger vehicle quota of 2.6 million units. This is well above current export levels. Two other sources directly familiar with the talks on metal quotas between Washington and Ottawa said the export limit the United States sought on aluminum would have caused investment in the industry to plunge. “It was so unacceptable that the discussions just ended before they began,” said one source.

(Reuters) - sterling silver soft square engravable cufflinks Wall Street indexes continued their slide in Thursday’s volatile session as investors worried about rising interest rates and braced for a trade war hit to corporate earnings a day ahead of the quarterly reporting season kickoff, In its sixth consecutive day of declines, the S&P closed down 2.1 percent after shedding 3 percent in Wednesday’s session, But at its session low the benchmark fell 2.7 percent to its lowest level since early July, The Nasdaq narrowly avoided confirming a correction, During the session it fell as much as 10.3 percent from its Aug, 29 closing record high but ended the day 9.6 percent below the record..

Investors worried that equity markets would have trouble recovering as rising interest rates coincide with uncertainty about how much earnings growth would be hurt by a U.S. trade war with China. “People fear that it will be harder to snap back if we’re seeing a cyclical top in earnings with those two headwinds, which are not going away,” said Michael O’Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut. The Dow Jones Industrial Average fell 545.91 points, or 2.13 percent, to 25,052.83, the S&P 500 lost 57.31 points, or 2.06 percent, to 2,728.37 and the Nasdaq Composite dropped 92.99 points, or 1.25 percent, to 7,329.06.

After hitting an intraday high of 28.84, the CBOE Volatility Index, popularly known as the “fear gauge,” ended the day up 2 points at 24.98, its highest close since Feb, 12, “We saw a rally this morning, and that ended up being a suckers’ rally, Then you had buy-the-dippers coming in here saying this was too much too fast,” said Dennis Dick, proprietary trader at Bright Trading Llc In Las Vegas, “Are we out sterling silver soft square engravable cufflinks of the woods here? I don’t think so,” he said, “You’re going to see a lot of volatility in the next week or so.”..

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