"They're our allies, but they take advantage of us economically."
"We lose over $100 billion a year with Mexico. We lose many, many, many billions of dollars with Canada. And all of these countries, including the European Union, they charge five times the tariffs. We don't charge tariffs, essentially."
Trump said punitive tariffs are an instrument to ensure fair trade, even with close allies.
Read Fair Trade
by Steven Nelson
The White House • June 1, 2018
WHAT: President Donald J. Trump is implementing steel and aluminum tariffs on Canada, Mexico, and the European Union following months of discussions to address United States national security concerns.
The President made it clear that the Administration was willing to work with those countries to find separate arrangements that would meet the national security requirements of the United States.
The United States has reached an arrangement with South Korea on steel, which was announced on April 30. Included in today’s proclamations, the United States has reached arrangements on steel with Australia, Argentina, and Brazil, and with Australia and Argentina on aluminum.
The United States was unable to reach satisfactory arrangements, however, with Canada, Mexico, or the European Union, after repeatedly delaying tariffs to allow more time for discussions.
WHY: Current quantities and circumstances of steel and aluminum imports into the United States threaten to impair national security. These excessive imports are driven in large part by the worldwide glut from overproduction by other countries.
In January 2018, the Department of Commerce delivered two reports on steel and aluminum investigations conducted under Section 232 of the Trade Expansion Act of 1962.
The reports found that the excessive level of imports threatened to impair the national security because further closures of domestic production capacity would result in a situation where the United States would be unable to meet demand for national defense and critical infrastructure in a national emergency.
On March 8, President Trump accepted the Department of Commerce’s recommendations and began to take action to address the threatened impairment to America’s national security.
Fred Costello Supports Free and Fair Trade