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News: Top Stories

Trump, in Interview, Says Tariffs Will Revive Steel Industry

Bloomberg logo Bloomberg 8/16/2018 Jennifer Epstein
An employee scarfs a steel slab during production at the NLMK Indiana facility in Portage, Indiana, U.S., on Friday, April 13, 2018. Novolipetsk Steel PJSC shares rose 5.3 percent, more than any full-day gain since December 11.: Inside The NLMK Indiana Steel Facility As Shares Advance Most This Year © Bloomberg Inside The NLMK Indiana Steel Facility As Shares Advance Most This Year

(Bloomberg) -- President Donald Trump believes his tariffs on steel will rescue the industry and is still considering an interview by Special Counsel Robert Mueller’s team, he said in an interview Wednesday with the Wall Street Journal.

People may complain that steel prices are “a little bit more expensive” but they will eventually fall and the duties will protect an industry that is essential to national security, Trump said.

The result, the president said, will be competition that is “internal, like it used to be in the old days when we actually had steel, and U.S. Steel was our greatest company.”

Trump said he hopes the special counsel’s investigation will end and is considering whether to talk to Mueller. “We’re looking at it,” he said, though he asserted the inquiry has been “badly discredited.” Trump and his allies have frequently criticized the investigation of Russian interference in the 2016 presidential election.

Trump’s lawyers are still negotiating with Mueller’s team, hoping to limit the scope of the investigators’ questions. His lawyers last week rejected the latest offer from Mueller.

The president also defended his decision to revoke former CIA Director John Brennan’s security clearance and his public warning that he is considering doing the same to other former national security officials who who have been critical of him, including former Director of National Intelligence James Clapper and former FBI Director James Comey.

“I don’t trust many of those people on that list,” Trump said. “I think that they’re very duplicitous. I think they’re not good people.”

Brennan wrote on Twitter that the revocation of his security clearance was “part of a broader effort by Mr. Trump to suppress freedom of speech & punish critics.”

To contact the reporter on this story: Jennifer Epstein in Washington at jepstein32@bloomberg.net

To contact the editors responsible for this story: Michael Shepard at mshepard7@bloomberg.net, John Harney, Mike Dorning

©2018 Bloomberg L.P.

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