US President Donald Trump says his tariffs on foreign steel are saving the American industry, predicting that in the future American steelmakers will mostly face domestic competition.
He told the Wall Street Journal that some people may complain that steel prices may be "a little more expensive" in the short term because of the tariffs, but that ultimately they will drop.
He told the Journal the 25 per cent tariffs on steel will rescue an industry important to US national security.
As a result of the tariffs, competition will be "internal, like it used to be in the old days when we actually had steel, and US Steel was our greatest company," he told the newspaper.
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