Trade wars were good and easy to win, after plan to put tariffs: Trump

Vastavam web: U.S. President Donald Trump struck a defiant tone on Friday, saying trade wars were good and easy to win, after his plan to put tariffs on steel and aluminum imports triggered threats of retaliation from trading partners and a slide in stock markets.The European Union raised the possibility of taking countermeasures, France said the duties would be unacceptable, and China urged Trump to show restraint. Canada, the biggest supplier of steel and aluminum to the United States, said it would retaliate if hit by U.S. tariffs.

Trump said on Thursday that a plan for tariffs of 25 percent on steel imports and 10 percent on aluminum products would be formally announced next week.
“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,” Trump said on Twitter on Friday.

In a later social media post, the Republican president said his aim was to protect U.S. jobs in the face of cheaper foreign products, a familiar theme in the“America First” credo he campaigned on for the 2016 election.Trump earned some bipartisan support from lawmakers, mainly from America’s rust belt states.

“This welcome action is long overdue for shuttered steel plants across Ohio and steelworkers who live in fear that their jobs will be the next victims of Chinese cheating,” said Senator Sherrod Brown, a liberal and populist Democrat from Ohio.“If the president wants to protect good-paying, family-supporting jobs in America, especially here in Wisconsin, then he should reconsider the administration’s position on these tariffs, particularly on ultra-thin aluminum,” Walker said in a statement.