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Trump says he's not backing down after Ryan urges him not to advance with tariffs

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Republican House Speaker Paul Ryan said Monday he is "extremely worried" about President Donald Trump's plan to implement new tariffs on steel and aluminum imports.

But Trump shot back not long afterward, telling reporters in the Oval Office he was not going to back down on tariffs.

He did, however, again signal that he may drop tariffs for Canada and Mexico if they can renegotiate a new NAFTA deal with the U.S. Trump also singled out China as the biggest problem the U.S. faces on trade — a notion he repeatedly expressed during his campaign.

Stocks rose Monday afternoon as traders saw an easing in concerns over a potential trade war. A Republican source told CNBC that congressional leaders have not ruled potential action if Trump follows through on his plan.

Ryan is trying to push the Trump administration not to slap 25 percent tariffs on steel and 10 percent tariffs on aluminum, a plan announced by the president on Thursday.


Source :- abcnews
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