'We're Not Backing Down' On Tariffs

'We're Not Backing Down' On Tariffs

But Mr Trump has insisted he is "not backing down" on his plan to impose stiff tariffs on imported steel and aluminium, despite anxious warnings from House Speaker Paul Ryan and other congressional Republicans of a possible trade war.

US President Donald Trump said on Saturday that steel imports would face a 25 percent tariff and aluminium 10 percent. "We had a very bad deal with Mexico, we had a very bad deal with NAFTA", Trump said at a joint media conference with visiting Israeli Prime Minister Benjamin Netanyahu at the Oval Office.

The tweets come as the seventh round of negotiations on a new NAFTA deal wrap up in Mexico City.

"If the European Union 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".

Those tariffs could be removed for Canada and Mexico if they signed a "new and fair" agreement, he suggested.

"Canada must. treat our farmers much better", he said. "Millions of people addicted and dying". "We're going to continue to have one but that doesn't mean we have to continue to agree on everything".

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"I don't think you'll have a trade war", he said.

But in his remarks Tuesday, Trump also didn't back down from some of his more aggressive rhetoric on trade wars. Canada and Mexico have threatened retaliation unless they are exempted.

The tariffs would increase jobs in the iron, steel and non-ferrous metals industries by 33,464, but the USA would lose 179,334 jobs throughout the rest of the economy.

"By people representing us who didn't have a clue", Trump said last week.

Indications are that the administration will impose a 25 percent levy on imported steel and a 10 percent levy on aluminum, although it is not clear whether all US trading partners will be affected. "For many years, NAFTA's been a disaster".

German auto companies urged policymakers on Monday to avoid a trade war with the United States "at all costs". Kim plans to meet with senior officials and lawmakers, including U.S. Trade Representative Robert Lighthizer. "Should restrictions be imposed on Canadian steel and aluminum products, Canada will take responsive measures to defend its trade interests and workers". "But, I think the smarter way to go is to make it more surgical and more targeted".

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