President Trump Said Trade Wars Are Good. Three Days Later, He Changed His Mind

After arguing that trade wars were good over the weekend, President Donald Trump dismissed the idea that the U.S. is gearing up for a trade war over proposed aluminum and steel tariffs on Monday.

Speaking to reporters in the Oval Office, Trump said that the Administration would not back down from the proposed tariffs in spite of heavy criticism from the world community and Republican lawmakers.

“No, we’re not backing down,” he said, adding, “I don’t think we’ll have a trade war.”

Last week, Trump announced plans to impose a 25% and 10% tariff on imports of steel and aluminum, respectively. The president’s policy proposal has not been formally outlined yet.

The announcement sent a shock through the stock market and brought threats and rebukes from key U.S. allies. “Should restrictions be imposed on Canadian steel and aluminum products, Canada will take responsive measures to defend its trade interests and workers,” Canada’s minister for foreign affairs, Chrystia Freeland, said in a statement after the announcement.

 Source : Yahoo