Ryan said Tuesday he's had multiple conversations with President Donald Trump in which he has urged the president to take "a more surgical approach" to instituting tariffs on steel and aluminum imports.
President announced new 25 percenttariff on steel imports, 10 percenttariff on aluminum imports; insight from The Hill's Jesse Byrnes.
In the meantime, Trump noted that the U.S.is trying to renegotiate the NAFTA trade deal with Canada and Mexico, in whcih he hinted at laying off on the proposed tariffs. The tweet came after news media reported that Brussels was considering putting a 25 percent tariff on USA imports, and European Commission head Jean-Claude Juncker said they would target "Harley-Davidson, bourbon and blue jeans". Knowing the USA ultimately has as much or more to lose, Canada is unlikely to be bullied into making serious concessions at the NAFTA table to avoid Trump's tariffs. Massive relocation of companies & jobs, ' Trump tweeted.
Congressional Republicans are maneuvering to stop President Trump from levying harsh tariffs on steel and aluminum imports, arguing the move runs counter to the core of their economic agenda and could even cause political problems heading into the 2018 midterms.
Trump said Canada must treat American farmers much better. "Millions of people addicted and dying", he said.
In addition, they're concerned a risky trade war could be on the horizon if the president goes through with the special import taxes.
Speaking as US, Mexican and Canadian trade officials were gathered in Mexico City for the final day of the seventh round of talks aimed at modernizing and modifying NAFTA, Trump doubled down on the threat he made on Twitter early Monday. Canada and Mexico have threatened retaliation unless they are exempted.
He also cooled down some of the rhetoric coming from Trump about a potential trade war. Much of the aluminum used in the USA comes from Canada.
The war of words might never get the chance to bloom into a full-on trade war if the Republicans succeed in blocking Trump's efforts - though their ability to do so remains uncertain. "We're going to build our steel industry back, we're going to build our aluminum industry back". "For many years, NAFTA has been a disaster".
Trump hopes the imposition of tariffs will help him to bring back jobs to the United States which he alleged to have been stolen by other countries that acted unfairly. More steel imports come from our allies - Canada, Japan and South Korea.