Concern is growing regarding Iran tensions and Chinese import tariffs

Plus, the Trump administration announces a new trade agreement with Canada and Mexico.
2:22 | 05/18/19

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:



Skip to this video now

Now Playing:


Related Extras
Related Videos
Video Transcript
Transcript for Concern is growing regarding Iran tensions and Chinese import tariffs
Eva, now to Washington where concern is growing regarding tensions with Iran and tariffs. ABC's David Wright is joining us from the white house. David, good morning to you. And starting off with Iran here, the president speaking out about the rising tensions with Iran and he's also addressing reports of internal conflict in his administration. Reporter: Good morning, whit. That's right. The president addressed it at a meeting of the national association of realtors responding to a report that originated in politico about supposed tensions between his secretary of state, Mike Pompeo, and his national security adviser, John Bolton. This after a week of conflicting reports about just how hawkish the U.S. Intends to be in terms of confronting Iran. Well, the president dismissed the politico report as fake news insisting there is no tension. He also went on to use even stronger language about these reports that use anonymous sources to describe administration policy. Trump blamed the media for confusing Iran about U.S. Intentions. Iran's foreign minister for his part shot back that there is no confusion on their part about where the U.S. Stands. They say they have known for a long time. A lot of concern about where it goes from here. I do want to switch, though, to the trump administration's tariff battle. We've been following the escalating trade war with China but now the white house announcing it's easing tariffs on Canada and Mexico. Reporter: Yeah, interesting development there. The president appears to be picking his battles in the trade wars. He's scaling back the tax on metal imported from Canada and Mexico. In exchange Canada and Mexico will scale back their taxes on pork, cheese and milk. That will help U.S. Farmers and the administration is also postponing new tariffs that were threatened against imported automobiles from Europe, Japan and elsewhere. All of this appears to be an attempt to soften the blow of these new tariffs that have been announced, about $200 billion worth of Chinese goods, products ranging from t-shirts to computer tablets appear to be about to skyrocket, whit. And increased cost of those tariffs likely to be passed along to consumers as well. David Wright at the white house, thank you. It really looks like the president is going to try to pacify things with our allies so he can dig in and go hard at China. More to come on this story for sure.

This transcript has been automatically generated and may not be 100% accurate.

{"duration":"2:22","description":"Plus, the Trump administration announces a new trade agreement with Canada and Mexico.","mediaType":"default","section":"ABCNews/GMA","id":"63120936","title":"Concern is growing regarding Iran tensions and Chinese import tariffs","url":"/GMA/News/video/concern-growing-iran-tensions-chinese-import-tariffs-63120936"}