US President Donald Trump’s attack against key allies in trade has already started squeezing some US companies but the president insists that he won’t engage in “stupid trade.”
For one thing, Trump’s tariffs, imposed on Thursday, have cost Iowa pork producers roughly $560 million over retaliation from Mexico, the largest export market for American pork.
Apart from that, the US allies are rushing to file cases against the United States at the World Trade Organization (WTO).
Firms manufacturing products using metals are also complaining about higher material prices, forcing them to raise the price of the products.
Despite that, the president took to Twitter Saturday to defend his decision against Canada, Mexico and the European Union.
“The United States must, at long last, be treated fairly on Trade,” he said. “If we…