Published: Tue, March 13, 2018
Sci-tech | By Carrie Guzman

Will Trump's tariffs help or hurt American jobs?

Will Trump's tariffs help or hurt American jobs?

President Trump on Monday said that despite imposing new tariffs on imports of steel and aluminum, there's no need to worry about a trade war.

President Trump said Monday that a trade war was unlikely despite recently announced tariffs on steel and aluminum.

Trump said last week that his 10 per cent tariff on aluminum and 25 per cent tariff on steel would be implemented across the board as a means of protecting national security.

Earlier on Monday, Mr Trump hinted that if the USA achieved a better deal for itself in the North American Free Trade Agreement (Nafta) he would abandon plans for tariffs on USA neighbours. Looming over the meeting were a series of tweets fired off by Trump earlier in the morning calling the agreement "a bad deal for U.S.A". "Massive relocation of companies & jobs", Trump wrote. "Millions of people addicted and dying", he said.

White House press secretary Sarah Huckabee Sanders said on Monday that Mr Trump was "very confident" the U.S. would win any trade war.

US Speaker of the House Paul Ryan said he was "extremely worried" about the impact of a trade war, adding that it could undermine economic gains.

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Trump administration officials said Monday that the tariffs will be made official in the next two weeks.

"He emphasized that the introduction of tariffs would not be helpful to reaching a deal on NAFTA", the readout said. The president is unhappy with what he perceives to be imbalanced trade between the USA and other countries.

Navarro said that "China is, in many ways, the root of the problem in both aluminum and steel for all countries of the world". At the same time, unions representing US steelworkers are pleased.

Trump hopes the imposition of tariffs will help him to bring back jobs to the USA which he alleged to have been stolen by other countries that acted unfairly. China's National People's Congress spokesperson Zhang Yesui has already threatened to retaliate if the U.S. goes ahead with the proposed steel/aluminium tariffs. "Make no mistake: If the president goes through with this, it will kill American jobs - that's what every trade war ultimately does. For many years, NAFTA's been a disaster".

The steel and aluminum tariffs were recommended by Commerce Secretary Wilbur Ross after a report from his agency concluded that the glut of the metals on global markets was a threat to United States national security.

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