Pete Navarro: 'We don't have a country' without steel and aluminum

The Tiwai Aluminium Smelter front right near Bluff. While only a small fraction of New Zealand's aluminium exports

While it's unclear what exactly would qualify as a "new and fair" deal for Trump, the president previously called NAFTA "the worst trade deal in history". "NAFTA has been a disaster for many years".

While Trump said he did not think there would be a trade war, United States trading partners already are preparing to retaliate, and have pledged to file a dispute in the World Trade Organization.

"With this, the declaration of (a trade) war has arrived", said German politician Bernd Lange, who heads the trade committee at the European Parliament. Some American producers, including those that make bourbon, blue jeans and Harley Davidson motorcycles, worry that a trade war with Europe and other nations will harm their exports. So are fellow Republicans, including House Speaker Paul Ryan. "The new tax reform law has boosted the economy and we certainly don't want to jeopardize those gains", said AshLee Strong, a spokeswoman for Ryan, Xinhua reported.

Economists warn that a protracted trade war would be seriously detrimental to the U.S. economy and likely lead to job losses and possibly even a recession. "We'll see what happens, but right now 100 percent, but it could be a part of NAFTA".

"First and foremost there is going to be an attempt to try to convince the President that he's headed down the wrong track, and hopefully get him to a point where he'll reconsider that decision", Thune said. "We will soon be starting reciprocal taxes so that we will charge the same thing as they charge us", he said. Canadian Prime Minister Justin Trudeau said the tariffs would be "absolutely unacceptable".

Mr. Trump announced that week that he plans on raising tariffs on aluminum by 10 percent and steel by 25 percent, despite some pushback from his economic advisers inside the White House. And you'll have protection for a long time in a while. The European Union, Canada and China are among those threatening to retaliate with tit-for-tat duties if Trump goes ahead with the steel and aluminium tariffs.

Some Democratic lawmakers heralded the deal for protecting American industries. She added that Ryan urged the president "to not advance with this plan".

Ross, however, suggested on Sunday that the tariff plan is in flux. "Well, in our sized economy, that's a tiny, tiny fraction of one percent". When services - not jut goods - are figured in, the US has a trade surplus with the Great White North.

"Any restrictions would harm workers, the industry and manufacturers on both sides of the border", Freeland said.

"My instructions were very firm: every single American I came anywhere near I was to raise steel", the official said.

US President Donald Trump today said he is willing to consider lifting his proposed tariffs on import of steel and aluminium if there is a "new and fair" NAFTA agreement.



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