Trump warns countries of reciprocal tariffs

Asserting that he likes free trade, but wants fair trade, US President Donald Trump warned that he could impose reciprocal tariff on other countries.

"You know, all of these countries, including the European Union, they charge five times the tariff. They charge five times what we charge for tariffs. I believe in the word 'reciprocal'. You're going to charge five times? We're going to charge five times. That hasn't been done. No other president ever brought it up. And it's going to be done now," Trump told reporters at the White House on Friday.Describing the North America Free Trade Agreement (NAFTA) as a terrible deal for the United States, Trump said people were starting to see it. "We lose over USD 100 billion a year with Mexico. We lose many, many, many billions of dollars with Canada. They are (Canada) very restrictive as to taking our agricultural product and other things," he said.

The United States, Trump said, was negotiating numerous deals, adding, "We're talking about NAFTA." "But I wouldn't mind seeing a separate deal with Canada, where you have one type of product, so to speak, and a separate deal with Mexico. These are two very difficult countries. It's been a lousy deal for the United States from day one. We lose a lot of money with Canada, and we lose a fortune with Mexico. It's not going to happen like that anymore," he said.