Wyden says Trump tariffs will produce 'economic chaos'
U.S. Senator Ron Wyden, D-OR, released scorching rhetoric following an announcement of new tariffs on steel and aluminum produced in Canada, Mexico and the European Union.
"The Administration appears to be pursuing a trade policy that creates economic chaos and uncertainty rather than jobs for hard working Americans," Wyden said in prepared statement.
The White House, under the leadership of President Donald Trump, argues the tariffs will create more jobs for factory workers here in America and bolster national security by ensuring that the U.S. always has enough capacity to churn out tanks, fighter jets and warships.
"The Trump administration's actions underscore its commitment to good-faith negotiations with our allies to enhance our national security while supporting American workers," the White House said in a statement posted on its website.
The new tariffs are proposed to be 25 percent for steel and 10 percent for aluminum.
But as ranking member of the Senate Finance Committee, Wyden has indicated his support for focusing on trade issues in China, not North America and Europe.
"The U.S. does need to take tough, immediate action to fight back against China's predatory policies, and bring back American steel and aluminum jobs," Wyden said. "But these tariffs, on the very allies we need to pressure China, make no sense.
The Wall Street Journal reported on Thursday, May 31, that the tariffs could spark "a global trade war" by irking America's long-standing partners.