TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Trump says 'trade wars are good and easy to win'
Change Size
US President Donald Trump takes part in a meeting with bipartisan members of Congress on school and community safety in the Cabinet Room of the White House on February 28, 2018 in Washington, DC. (AFP/Mandel Ngan)
P
resident Donald Trump spoke out defiantly Friday against global criticism of his plan to impose tariffs on steel and aluminum imports, seeming to welcome the idea of a trade war.
"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 wrote in an early morning tweet.
"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!" the president wrote.
After weeks of rumors and counter-rumors about his administration's intentions, Trump on Thursday announced he would sign off on measures designed to protect US producers next week.
The tariffs -- 25 percent on steel and 10 percent on aluminum -- cover two materials that are the lifeblood of the construction and manufacturing sectors.
The announcement was greeted with fury within key US trading allies such as Canada, the EU, Australia and Mexico, as well as rival China.
It also caused jitters across global stock markets.
