President Trump reassured the American public Friday that the United States would “easily win” a trade war with China or any other nation; easing concerns after he announced dramatic new tariffs on foreign-produced steel and aluminum.
The President slammed his predecessors’ decisions on trade and manufacturing on social media, saying a vibrant steel industry was vital to the national security of any nation.
“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. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!” Trump tweeted.
“When a country Taxes our products coming in at, say, 50%, and we Tax the same product coming into our country at ZERO, not fair or smart. We will soon be starting RECIPROCAL TAXES so that we will charge the same thing as they charge us. $800 Billion Trade Deficit-have no choice!” he added.
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. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!
— Donald J. Trump (@realDonaldTrump) March 2, 2018
When a country Taxes our products coming in at, say, 50%, and we Tax the same product coming into our country at ZERO, not fair or smart. We will soon be starting RECIPROCAL TAXES so that we will charge the same thing as they charge us. $800 Billion Trade Deficit-have no choice!
— Donald J. Trump (@realDonaldTrump) March 2, 2018
The President’s comments come hours after he suddenly announced the new tariffs during a meeting with industry leaders, telling the executives “You have protection for the first time in a long while and you are going to regrow your industries.”