Donald Trump says U.S. has 'already lost' trade war, defends proposed China tariffs

Donald Trump says U.S. has 'already lost' trade war, defends proposed China tariffs
From Global News - April 6, 2018

WASHINGTONU.S. President Donald Trump said on Friday the United States has already lost any trade war, as he defended his proposed tariffs against Chinese goods, saying the move might cause a little pain but the United States will be better off in the long run.

READ MORE:Chinese state media slams Trumps latest tariff proposal as ridiculous intimidation tactic

Weve already lost the trade war. We dont have a trade war, weve lost the trade war, Trump said in a radio interview with New York radio show, 77 WABCs Bernie & Sid.

WATCH:Possibility of US/China trade war has global markets nervous

Im not saying there wont be a little pain, but the market has gone up 40 percent, 42 percent so we might lose a little bit of it. But were going to have a much stronger country when were finished.

So we may take a hit and you know what, ultimately were going to be much stronger for it, Trump said.

On Wednesday, China unveiled a list of 106 U.S. goodsfrom soybeans and whiskey to frozen beef and aircrafttargeted for tariffs, in a swift retaliatory move only hours after the Trump administration proposed duties on some 1,300 Chinese industrial, technology, transport and medical products.

WATCH:Chinas ambassador to U.S. vows to fight back over Trumps protectionist trade measures


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