Trump says he's 'not backing down' on steel and aluminum tariffs

A new report said the tariffs would result in a net loss of 146,000 U.S. jobs in a year.
2:47 | 03/06/18

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Transcript for Trump says he's 'not backing down' on steel and aluminum tariffs
president trump standing firm on his plan to impose tar riches on imports of steel and aluminum. At a foe toll-opt with the Israeli prime minister, saying the move will not trigger a trade war. But Republicans leaders tonight pushing back, and some of America's trading partners threatening to impose tariffs on American products arriving. Here's ABC's chief white house correspondent Jonathan Karl tonight. Reporter: The tariffs announced by the president roiled the financial markets and outraged American allies and Republican leaders, but the president told us today, he's not backing down. Paul Ryan says he's worried about a trade war. Are you going to back down on the tariffs? No, we're not backing down. People have to understand, our country, on trade, has been ripped off by virtually every country in the world, whether it's friend or enemy. Everybody. Reporter: But a new analysis out tonight by the non-partisan trade partnership projects the trump tariffs on steel and aluminum would result in a net loss of 146,000 American jobs in a single year. Speaker of the house Paul Ryan is practically begging the president to reconsider, saying, quote, we are extremely worried about the consequences of a trade war. But the president has declared, "Trade wars are good and easy to win." Although today? I don't think you'll have a trade war. Reporter: No trade war? I don't think so, I don't think you'll have a trade war, no. Reporter: In a bid to diffuse tension, speaker Ryan met today with a group of European ambassadors, but the European union is already vowing retaliation, threatening to impose tariffs of its own on iconic American programs. Bourbon from senate leader Mitch Mcconnell's home state of Kentucky. Harley-davidson motorcycles, made in speaker Ryan's home state of Wisconsin, and jeans from lelevi-strauss, which just happens to be headquartered in democratic leader Nancy Pelosi's San Francisco district. Jon Karl with us from the white house tonight. Of course, we know this is a particularly turbulent time at the white house, and the president himself joked about this over the weekend at the annual gridiron dinner? Reporter: He joked it has been a calm week at the white house, and then talking about all of the problems surrounding his son-in-law, Jared Kushner, his security clearance downgraded, the president joked, we were late tonight because Jared couldn't get through ivanka, you've got to do something. And then about all the staff turmoil following the departure of hope hicks, he said, the question everyone keeps asking, who's going to leave next, Steve Miller of Melania? At least he had a sense of humor about it all. All right, Jon Karl tonight, thank you.

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

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