| TSLN.com

At a roundtable discussion in Bangor, Maine, on lobster industry demands, President Donald Trump said he will impose tariffs on the European Union and China in order to force them to remove their tariffs on Maine lobster.

“So Canada doesn’t pay a tariff for the same exact lobster in the same waters, but we pay a tariff. If European Union doesn’t drop that tariff immediately, we’re going to put a tariff on their cars, which will be equivalent,” the president said. “It’s going to be the equivalent-plus.”

Trump tapped White House Director of Manufacturing and Trade Policy Peter Navarro, who was present at the roundtable, to come up with a retaliatory tariff plan. “Peter Navarro is going to be the lobster king now, OK?,” Trump said.

In addition to tariffs on EU autos, Trump also charged Navarro to “pick a product” from China to hit with retaliatory tariffs if Beijing does not agree to drop its tariff on Maine lobsters.

But at the same time, Trump said that China is living up to the “phase one” trade agreement and is making large purchases of U.S. products.

A representative of the Maine lobster industry told Trump that Canada is the biggest competitor, and Trump acknowledged that lobster trade was not covered in the new U.S.-Mexico-Canada Agreement on trade.

–The Hagstrom Report