Trump: Bring On The Trade Wars


President Trump stated this weekend that he plans to increase tariffs on imported cars from the European Union should they retaliate regarding the 25% tariff on steel and 10% on aluminum.

“If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S. They make it impossible for our cars (and more) to sell there. Big trade imbalance!”

“The United States has an $800 Billion Dollar Yearly Trade Deficit because of our “very stupid” trade deals and policies. Our jobs and wealth are being given to other countries that have taken advantage of us for years. They laugh at what fools our leaders have been. No more!”

Despite facing criticism, he remained steadfast in his decision.

“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!”

“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!”

As reported by USA Today:

That, in turn, was met by a sharp rejection from Canadian Prime Minister Justin Trudeau who called the tariffs “absolutely unacceptable” and said they would cause serious disruption of markets on both sides of the border.

[…]

For now, Canada was feeling the most acute pressure as the top supplier to the United States of both steel and aluminum, exporting nearly 90% of its steel to the U.S.

 “Any disruption to this integrated market would be significant and serious, Trudeau said.

These proposals, he added, “are going to hurt them every bit as much as they are going to hurt us, and we are confident we’re going to continue to be able to defend Canadian industry.”

“Canada’s been very rough on the United States. Everyone thinks of Canada as being wonderful, and so do I, I love Canada,” he said. “But they’ve outsmarted our politicians for many years.”