July 24, 2018 / 3:08 PM / 8 months ago

Ryan says tariffs not right tool for countering unfair trade

FILE PHOTO: U.S. Speaker of the House Paul Ryan speaks with reporters during his weekly news conference on Capitol Hill in Washington, U.S., June 21, 2018. REUTERS/Aaron P. Bernstein/Files

WASHINGTON (Reuters) - U.S. House Speaker Paul Ryan said on Tuesday that tariffs are taxes and are not the right tool to counter unfair trading practices by other countries, signalling opposition to President Donald Trump’s earlier statement that tariffs were great.

Trump’s goal to achieve better trade deals and a better deal for Americans was a good one, but “I think tariffs are taxes and I think there are better tools that we can use,” Ryan told reporters.

Trump said in a Twitter post on Tuesday that “Tariffs are the greatest!” because they force countries to negotiate fair trade deals or pay.

Reporting by Amanda Becker; writing by David Alexander; Editing by Doina Chiacu

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