US Tariffs Reason for Talks, Not Declaration of Trade War - Economic Adviser

WASHINGTON (Sputnik) - Imposing new tariffs on steel and aluminum products to redress trade imbalances is not a sign of a trade war, but a reason to open discussions with partners on the matter, White House Economic Adviser Larry Kudlow said in an interview on Friday.

"It is not a trade war, it is a discussion," Kudlow told CNBC News. "We can fix this, but we gonna need the help of our friends."

READ MORE: Aluminum Prices Rising Amid Introduction of US Metal Import Tariffs

However, US Commerce Secretary Wilbur Ross announced on Thursday that the United States will impose tariffs on steel and aluminum originating from the European Union, Canada and Mexico starting at midnight (5:00 a.m. GMT).

Kudlow said during the interview the United States trade model has so far been effective while the strategies employed by other countries have not worked well.

In a separate interview with Fox Business, Kudlow called the international trading system outdated and emphasized the need for reform.

In late March, the United States imposed a 25 percent tariff on imported steel products and 10 percent tariff on imported aluminum products. The US government then granted temporary exemptions to the European Union, Canada and Mexico.