Trump rejects calls by UK’s May to drop tariff plans
US President Donald Trump has rejected calls by British Prime Minister Theresa May to reconsider his plans to impose 25-percent and 10-percent tariffs on steel and aluminum imports to the US.
“We are on the losing side of almost all trade deals. Our friends and enemies have taken advantage of the US for many years,” Trump wrote in a tweet. “Our Steel and Aluminum industries are dead. Sorry, it’s time for a change! MAKE AMERICA GREAT AGAIN!”
The statement came shortly after May’s office said the premier had raised “deep concern” with Trump over the issue.
May called Trump on Sunday after global stock markets tumbled in the face of a threatened trade war with China, and escalating tensions between the US and Europe Union.
“The prime minister raised our deep concern at the president’s forthcoming announcement on steel and aluminum tariffs, noting that multilateral action was the only way to resolve the problem of global overcapacity in all parties’ interests,” a spokeswoman for May’s Downing Street office said Sunday.
Trump’s reference to “friends” in his new post most likely includes the UK, which heavily relies on a future trade deal with the US after leaving the European Union (EU).
Trump, who is accused of protectionism, has promised May a “major trade deal” that, ironically, would save London from the EU’s “very protectionist” policies.
Undeterred by warnings from experts and allied leaders around the world about a looming trade war, Trump has doubled down on his plans to push ahead with the changes.
When President of the European Commission Jean-Claude Juncker said over the weekend that the EU would increase tariffs on a range of US goods, Trump hit back by threatening to raise taxes on European cars.
The trade war is likely to hurt May’s plans for a post-Brexit UK, where London would heavily rely on its business ties with the US and other parts of the world to boost its economic growth after leaving the EU.
The PM, who was slated to speak about Brexit on Monday afternoon, admitted in a speech on Friday that Britain should be ready to face “hard facts” about the economic consequences of Brexit.
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