Trump: 'I don't think you'll have a trade war'

Last week Trump announced his plans to impose a 25 percent tariff on imported steel and a 10 percent tariff on imported aluminum.
2:19 | 03/05/18

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Transcript for Trump: 'I don't think you'll have a trade war'
Trade war created. No we're not backing down from Mexico. It is. Had a very big deal with Mexico very bad deal with candidates on NAFTA. Are factors that left our country our jobs have left our country for many years nafta's been a disaster. We are renegotiating NAFTA as I said I would that we don't make a deal I'll terminated now. But my do make a deal which is fair to the workers and to the American people. That would be I would imagine one of the points it will negotiate will be tariffs on steel for Canada. And from Mexico so we'll see what happens but right now 100%. But it could be a part of NAFTA and I understand it just got a call from the people who are right now. In Mexico City negotiating NAFTA. Mexico and really Canada want to talk about but. If they aren't going to make a fair NAFTA deal which is gonna leave it is what people have to understand our country. On tray has been ripped off by virtually every country in the world whether it's friend or enemy everybody. China. Russia. And take people that we think are wonderful European Union. We can't do business in that they don't allow they have. Trade barriers that are worse than Paris they also have to Harris by the way but they have trade barriers far worse. And tyrants. And and they wanted to do something will just taxed their cars a chase ended here. Like water. So we may have friends but remember this we lost over the last number of years 800. Billion dollars a year not. Not a half a million dollars up twelve cents we lost 800. Billion dollars a year entree. Not gonna happen we've got to get it back and of course the biggest problem the biggest problem is time. We lost 500. Billion dollars how previous presidents allowed that to happen. Is disgraceful. But we're gonna take care of it thank you all very much. I don't think we haven't. I don't think you're gonna have a trip.

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

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