(Bloomberg) -- President Donald Trump reiterated his commitment to levying tariffs on steel and aluminum, saying that the U.S. has 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 in a press conference at the White House with Swedish Prime Minister Stefan Lofven. “The trade war hurts them, not us.”
Trump said that the E.U. has been “particularly tough” on U.S. products, yet is able to sell its own goods such as cars to Americans. Trump warned that he would impose a 25 percent penalty on European car imports if the bloc carried out a threat to retaliate against the metals tariffs. The E.U. has threatened to slap a duty on several U.S.-made goods, including bourbon and motorcycles.
“We have to straighten this out. We really have no choice,” Trump said.
To contact the reporter on this story: Toluse Olorunnipa in Washington at tolorunnipa@bloomberg.net.
To contact the editors responsible for this story: Alex Wayne at awayne3@bloomberg.net, Joshua Gallu
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