The official discussed steel with the State Department and the White House national security council in talks that also touched on the violence in Syria, the Iran nuclear deal and bilateral U.S. "Massive relocation of companies & jobs", Trump wrote. However, the country will most likely benefit from the new duties imposed by Donald Trump on steel and aluminum.
".treat our farmers much better". "Millions of people addicted and dying".
After criticism from Republicans and a dip in the stock market in reaction to his announcement, Trump tweeted Friday, "When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win".
"No, we're not backing down", he said, adding, "I don't think we'll have a trade war".
Earlier on Monday, Ryan's office blasted out a CNBC article that linked a drop in the markets to Trump's planned tariffs.
"First and foremost there is going to be an attempt to try to convince the President that he's headed down the wrong track, and hopefully get him to a point where he'll reconsider that decision", Thune said.
"With this, the declaration of (a trade) war has arrived", said German politician Bernd Lange, who heads the trade committee at the European Parliament. As president, he has set out to reduce the trade deficit (meaning the United States isn't importing much more than it exports) with Mexico and Canada.
Trump is holding firm on his threat to slap tariffs of 25 per cent on steel and 10 per cent on aluminum. At the same time, unions representing US steelworkers are pleased.
The new import duty on China is said to be aimed at Chinese steel, which is quite often dumped in the U.S. market. Our friends and enemies have taken advantage of the US for many years. That's the thing with trade wars - they can escalate quickly and easily spin out of control.
Retaliation for Trump's steel and aluminum tariffs, which the White House has signaled could drop as soon as this week, could come much faster.