'Markets Do Not Like This': Sandra Smith Grills WH Trade Official on Steel Tariffs

President Trump's surprise plan to impose tariffs on aluminum and steel imports was met with widespread derision from his own party, including from Sen. Ben Sasse (R-Neb.), who called the idea potentially disastrous for American consumers.

Despite a significant drop in the stock markets Thursday and Friday, Trump gave no indication that he would back off the plan for a 25 percent tariff for steel imports and 10 percent tariff for aluminum imports.

We must protect our country and our workers. Our steel industry is in bad shape. IF YOU DON’T HAVE STEEL, YOU DON’T HAVE A COUNTRY! — Donald J. Trump (@realDonaldTrump) March 2, 2018

When a country Taxes our products coming in at, say, 50%, and we Tax the same product coming into our country at ZERO, not fair or smart. We will soon be starting RECIPROCAL TAXES so that we will charge the same thing as they charge us. $800 Billion Trade Deficit-have no choice! — Donald J. Trump (@realDonaldTrump) March 2, 2018

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Sasse said what Trump proposed amounts to "leftist economic policy," arguing trade wars have never worked.

"If you own a steel mill, today was great for you. If you consume steel - and every American family bought something at the store tonight with metals in it - today's a bad day for you," he said, warning of future "retaliatory" measures against farmers, ranchers and consumers in the United States as the trade war worsens.

Trade is great for America. It's great for American families. Trade creates jobs & lowers prices for American families. Trade wars do the opposite. No trade war has ever worked. We don't want to make America 1930 again. pic.twitter.com/fK7oy7GcVz — Senator Ben Sasse (@SenSasse) March 2, 2018

Bret Baier asked Sasse about states, won by Trump in 2016, that have seen job losses due to China's trade practices and about the voters who supported Trump's position on trade.

"This is leftist economic policy and we've tried it a whole bunch of times over the last two centuries and every time, American families have suffered," he responded.

Sasse said Trump made a lot of promises on the campaign trail, but once he got into the White House he was advised toward positions that are better for the country long-term.

Sen. Orrin Hatch (R-Utah) echoed Sasse's sentiments, saying "whoever advised him on this ought to be reprimanded."

The new tariff plan, however, earned praise from some Democrats, including Rep. Marcy Kaptur of Ohio.

"I've served in Congress for over three decades. We've been waiting for this. We don't want to wait for the steel industry collapse. We can't afford to have the aluminum industry collapse in this country," said Kaptur.

Watch the interview above.

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