In an interview on ‘Fox News Sunday,’ Peter Navarro, the White House’s Director of the National Trade Council, warned that the U.S. aluminum industry is ‘on life support.’
Peter Navarro on POTUS' tariff hikes: Our aluminum industry, make no mistake, that thing is on life support. That will be gone in a year or two if the president doesn't take the courageous actions he's proposed. " #FoxNewsSunday pic.twitter.com/xVlCSF5bYL
— Fox News (@FoxNews) March 4, 2018
NAVARRO: “Let’s tackle this in two ways. First of all, let’s talk about the 232. When 232 investigation, it’s national security and economic security, broadly defined and it’s country-agnostic. Doesn’t matter who is sending us this product. The fact is, if we keep receiving it the way we are, we’re not going to have an aluminum industry. We’re not going to have a steel industry. Our aluminum industry, make no mistake, that thing is on life support. That will be gone in a year or two if the president doesn’t take the courageous actions he’s proposed.”
On Thursday, President Trump announced that the United States would impose a 25% tariff on steel imports and a 10% tariff on imported aluminum.
After an onslaught of criticism over the move, Trump took to Twitter to explain his thinking on tariffs.
“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!” tweeted Trump.
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!
— Donald J. Trump (@realDonaldTrump) March 2, 2018
“Our Steel and Aluminum industries (and many others) have been decimated by decades of unfair trade and bad policy with countries from around the world. We must not let our country, companies and workers be taken advantage of any longer. We want free, fair and SMART TRADE!” Trump tweeted the day before.
Our Steel and Aluminum industries (and many others) have been decimated by decades of unfair trade and bad policy with countries from around the world. We must not let our country, companies and workers be taken advantage of any longer. We want free, fair and SMART TRADE!
— Donald J. Trump (@realDonaldTrump) March 1, 2018
