Trump calls trade wars 'good, and easy to win' amid fallout from steel and aluminum tariffs

Trump tweets in favor of trade wars — (Image credit: Mandel Ngan/AFP/Getty Images)

President Trump's unexpected announcement that he will slap a 25 percent tariff on steel imports and 10 percent on aluminum sent the U.S. stock market reeling Thursday, drew retaliatory threats from the European Union and Canada, and earned an expression of "grave concern" from China. On Friday morning, Trump seemed to welcome the financial upheaval.

Most economists — including his top economic adviser, Gary Cohn — disagree with the tariffs and idea of a cost-free trade war. The tariffs Trump announced Thursday, during what was supposed to be a listening session with steel and aluminum executives, surprised his staff and haven't even cleared a legal review, The New York Times reports.

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Explore More

Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.