President Donald Trump defended his Thursday announcement of a 20 percent tariff on imported steel with a Friday morning tweet.
We must protect our country and our workers. Our steel industry is in bad shape. IF YOU DON’T HAVE STEEL, YOU DON’T HAVE A COUNTRY!
— Donald J. Trump (@realDonaldTrump) March 2, 2018
Trump made the shock announcement of tariffs on steel and aluminum Thursday afternoon after his aides furiously tried to stop him. Critics accused Trump of embarking the U.S. on a trade war and the Dow Jones industrial average dropped approximately 400 points on the news.
Earlier Friday morning, the president defended his tariffs even if they do start a trade war 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) March 2, 2018
Trump has long believed in the utility of tariff’s and protecting the U.S. steel industry. “We must not let our country, companies and workers be taken advantage of any longer,” he said in his Thursday announcement.