Donald Trump dials back 50% Canada tariff threat, downplays recession

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Donald Trump dials back 50% Canada tariff threat, downplays recession - Business Standard

Quick Summary:

Trump says that initiative will bring growth to the private sector, and he defended it again on Tuesday.“We had some little hiccups, not big hiccups,” Trump said.“But we saved a tremendous amount of money into the future.

That includes “reciprocal” duties – matching what the US sees as trade barriers imposed by other countries – and separate tariffs on a wide range of specific products, from autos and semiconductors to lumber.

The president said increased levies simply meant it was “more likely” companies would move their operations inside the US.“The biggest win is not the tariff — that big win is a lot of money — but the biggest win is if they move into the country and produce,” Trump said.