US President Donald Trump has said he has "no intention" of easing the 25% tariffs imposed on US trading partners on steel and aluminium.
"No, I have no intention of doing that," Trump told reporters last night who asked him if he would approve exemptions from the tariffs.
Seeking to rebalance his country's trade balance, Trump has engaged in a power struggle since his return to the White House in January, which has destabilized financial markets and sparked fears of a recession in the world's largest economy.
Since last week, 25 percent tariffs on steel and aluminum have been in effect, aiming to protect the American steel industry, which is facing increasing competition.
Trump plans to impose so-called "reciprocal" tariffs on all of his country's trading partners starting April 2.
That is also the date when 25 percent tariffs on Mexican and Canadian products, which were temporarily suspended in early March, are set to take effect.
"April Fool's Day is a day of liberation for our country. Billions of dollars have already come into our country, and starting April 2nd, there will be even more," Trump said.
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