MP David Lidington takes on Trump in trade war row

Although his recently announced measures cover only steel and aluminium US President Donald Trump has be strongly

Trump's move on steel and aluminium may spark global trade retaliation

Top Republican lawmakers including House Speaker Paul Ryan have raised concerns about President Donald Trump's plan to impose tariffs on metals fearing that it could pave the way for a "trade war", the media reported.

President Trump's plan for harsh new steel and aluminum tariffs, expected to go into effect later this week, drew fire from Ryan on Monday.

The comments, made during a White House meeting with Israeli Prime Minister Benjamin Netanyahu, came just four days after Trump announced new tariffs - taxes on imports - for steel and aluminum coming into the US.

Earlier on Monday, Mr Trump hinted that if the USA achieved a better deal for itself in the North American Free Trade Agreement (Nafta) he would abandon plans for tariffs on USA neighbours.

Korean steelmakers are expected to suffer losses from Trump's higher tariffs as South Korea is the third-largest steel exporter to the USA after Canada and Brazil. It's not just the USA economy that will suffer: The tariffs would punish some of America's closest allies, including NAFTA partners and the EU. "Massive relocation of companies & jobs", Trump wrote.

"Canada must. treat our farmers much better", he said. "Highly restrictive. Mexico must do much more on stopping drugs from pouring into the US. Millions of people addicted and dying", he said.

"I don't think we'll have a trade war", the president said.

"We're not backing down", Trump said.

Despite the Canadian foreign minister's pessimism toward the tariffs last week, Canada's chief negotiator Steve Verheul noted the body had "successes we can point [to]" but ceded there is "more to do" in ongoing negotiations.

"We [BHP] will live and die by what happens with free trade", he said.

Senate Finance Committee Chair Orrin Hatch (R-UT) said the tariffs are "not going to help America" and whoever recommended them to Trump should be "reprimanded".

Now, he's about to take his bad trade policy to an even more risky place.

Mr Trump's announcement last week that he would tax imported steel and aluminium has prompted worldwide reaction.

"I don't think so; I don't think you're gonna have a trade war, no", he said.

And more than five jobs would be lost for every one gained under the tariffs, according to the Washington, D.C. -based economic consulting firm.

The problem with tariffs on products like steel and aluminum is that they raise prices.

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