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Mnuchin Tries to Douse Trade-War Fears Over Trump Tariff Threats [Bloomberg Business News]

BARCLAYS (BCS)  More Company Research Source: Bloomberg Business News
PDF President Donald Trump reiterated his commitment to slapping tariffs on steel and aluminum, dismissing concerns about a global trade war and saying the U.S. has suffered from poor trading conditions with other nations, including those in the European Union. “When we’re behind every single country, trade wars aren’t so bad,” Trump said Tuesday in a press conference at the White House with Swedish Prime Minister Stefan Lofven. “The trade war hurts them, not us.” Trump spoke just hours after his Treasury secretary, Steven Mnuchin, sought to offer assurances during congressional testimony that the U.S. didn’t want to start a trade war. Trump’s call for tariffs on steel and aluminum imports has prompted an outcry not just from trading partners but also within his administration and the Republican party over concerns they will spark a global trade war. Lawmakers from his own party are pressuring the president to at least curtail the tariffs’ reach to certain forms of th [Read more]

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