Washington sources have stated that US President Donald Trump said the import tariff hike would create jobs in the US and benefit its industries. He said the people representing the US had "destroyed" the steel industry, aluminum industry, and other industries. He said "Frankly, when you look at all the plants, the car plants, automobile plants that moved down to Mexico for no reason whatsoever, except we didn't know what we were doing”.
Trump added "They are going to build our steel industry back and we're going to build our aluminium industry back". Meanwhile his announcement was welcomed by the domestic steel and aluminium industry and several lawmakers, but drew sharp reaction from other quarters who felt that this would have a detrimental impact on the American economy.
Further the Wall Street Journal said that such a
move by Trump has "sparked worries" of a looming global trade war. He
said “Another
Republican Congressman Pete Olson expressed concern over Trump's decision on
proposed tariffs on steel and aluminium imports. "We must tread carefully when imposing
tariffs of this size as they often have unintended consequences on American
businesses”.
