President Donald Trump on Friday declared “trade wars are good, and easy to win,” a bold claim that will likely anger those on Wall Street… and even some establishment Republicans. But Trump says he’s not afraid of them.
Trump has declared that the U.S. will impose steep tariffs on steel and aluminum imports, pushing back against allegedly unfair trade deals with China and other countries. With tensions rising over international trade, stocks closed sharply lower on Wall Street. China on Friday expressed “grave concern.”
Trump insisted the move was necessary on Twitter, saying —
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)