Sticking to his guns on the Administration’s approach to U.S. international trade, President Donald Trump Monday said he would not step back from his decision to impose tariffs on steel and aluminum.
“No, we’re not backing down,” Trump said at the White House as the U.S international trade partners calculated costs of the moves on their national economies and industries.
But Trump noted that countries around the world have benefited unilaterally from past U.S. trade practices. The United States, he sadi, has been “ripped off” by foreign countries including allies.
According to reports foreign countries are concerned that imposition of tariffs by the U.S. – the world’s largest economy – would hurt the international trade, and they could be contemplating tit-for-tat restrictions.
President Trump on #tariffs and trade: "No, we're not backing down."
Full video here: https://t.co/affyfLt9zN pic.twitter.com/MjQYYG885O
— CSPAN (@cspan) March 5, 2018
Trump noted that several European countries already have trade barriers.
Some U.S. lawmakers and businesses have also voiced their concern over the president’s decision to impose high tariffs as it would spiral the cost of steel goods.
However, Trump sees no trade wars from his moves.
“I don’t think you’re going to have a trade war.”
