President Trump’s senior advisor for trade and manufacturing, Peter Navarro, has defended the US’s decision to impose a 25% tariff on steel and aluminium imports, stating that it is necessary to protect against unfair dumping and government subsidization. Navarro praised the UK for choosing not to retaliate with tariffs, calling it a sensible response.
Navarro also criticized the EU for providing billions of euros in subsidies to its steel industry, contributing to a global capacity glut. He urged the EU to reexamine its industrial policies before retaliating against the US tariffs.
When asked about concerns over rising prices for US consumers due to the tariffs, Navarro dismissed the idea, citing a global oversupply of steel and aluminium. He claimed that countries typically lower their prices in response to US tariffs, alleviating concerns about domestic price increases.
Overall, Navarro emphasized the US’s commitment to protecting its steel and aluminium industries from unfair practices and expressed confidence that the tariffs will ultimately benefit US consumers. The US government is standing firm on its trade policies despite potential challenges in the short term.
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