Paul Ryan Splits With Trump Over Tariffs

US President Donald Trump speaks on steel and aluminum tariffs during a meeting with industry leaders in the Cabinet Room of the White House

Following Juncker's comments, Trump warned the United States would apply a tax on European cars if the bloc wants to increase tariffs on American firms, a statement that has rattled European automakers. As president, he has set out to reduce the trade deficit (meaning the U.S. isn't importing much more than it exports) with Mexico and Canada. "We had a very bad deal with Mexico, we had a very bad deal with NAFTA".

Trump on Thursday surprised much of Washington - and his own staff - by announcing that he would impose a 25 percent tariff on steel and a 10 percent tariff on aluminum.

Mexico and Canada were exempted when former President George W. Bush imposed steel tariffs in 2002.

"We have had a bad deal with Mexico".

They also said it could cause political problems ahead of 2018 midterms.

"But if I do make a deal which is fair to the workers and to the American people, that would be, I would imagine, one of the points that we'll negotiate", Trump elaborated in his Oval Office comments.

Americans are largely opposed to President Donald Trump's proposed tariffs on steel and aluminum imports, according to a new survey. Kim explained to the officials that South Korea's imports of Chinese steel do not target the USA market, noting that among Korean steel exports to the US, a mere two-point-four percent use Chinese materials.

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Prime Minister Justin Trudeau is heading to Canadian steel country this week on a three-day tour created to shore up the industry. China's Commerce Ministry criticized Trump for acting unilaterally rather than working through the World Trade Organization.

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Mexico's Economy Minister Ildefonso Guajardo in a tweet said the threat is "the wrong way to incentivise the creation of a new & modern NAFTA".

That's why legislators from US states that export agricultural products are deeply concerned with Trump's action.

Ryan is urging President Donald Trump to reconsider his plan to institute tariffs on imported steel and aluminum, the highest-ranking Republican to push back on the plan.

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".

Repeating his concern about the U.S. trade deficit of $800 billion past year, he said "the biggest problem is China". Already the European Union, China, and Canada have said they are considering reciprocal measures. Industries that use steel and aluminum in manufacturing, whose jobs outnumber those in metals production - say increased costs will force them to raise prices.

The EU has vowed to retaliate against US-made consumer goods such as Harley-Davidson motorcycles and blue jeans.

The war of words might never get the chance to bloom into a full-on trade war if the Republicans succeed in blocking Trump's efforts - though their ability to do so remains uncertain.

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