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US Tariffs Reason for Talks, Not Declaration of Trade War - Economic Adviser

WASHINGTON (Sputnik) - Imposing new tariffs on steel and aluminum products to redress trade imbalances is not a sign of a trade war, but a reason to open discussions with partners on the matter, White House Economic Adviser Larry Kudlow said in an interview on Friday.
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"It is not a trade war, it is a discussion," Kudlow told CNBC News. "We can fix this, but we gonna need the help of our friends."

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However, US Commerce Secretary Wilbur Ross announced on Thursday that the United States will impose tariffs on steel and aluminum originating from the European Union, Canada and Mexico starting at midnight (5:00 a.m. GMT).

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Kudlow said during the interview the United States trade model has so far been effective while the strategies employed by other countries have not worked well.

In a separate interview with Fox Business, Kudlow called the international trading system outdated and emphasized the need for reform.

In late March, the United States imposed a 25 percent tariff on imported steel products and 10 percent tariff on imported aluminum products. The US government then granted temporary exemptions to the European Union, Canada and Mexico.

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