UPDATE: Trump Today: Citing William McKinley and Elon Musk, president rolls out steel tariffs
By Robert Schroeder, MarketWatch
Trump vows 'great flexibility' for friendly nations on tariffs
President Donald Trump on Thursday unveiled steel and aluminum tariffs as he said departing economic adviser Gary Cohn could return to the administration and met with video-game makers about gun violence.
TRUMP UNVEILS TARIFF PLAN
Trump unveiled his promised tariffs on Thursday (https://www.whitehouse.gov/presidential-actions/presidential-proclamation-adjusting-imports-steel-united-states/), but said the U.S. must show "great flexibility and cooperation toward those that are real friends and treat us fairly on both trade and the military."
The White House said Canada and Mexico will be exempt from the tariffs, and other countries could negotiate adjusting them. They are set to go into effect in about two weeks. Speaking at a White House ceremony, Trump said U.S. industries had been "ravaged" by foreign trade. "It's really an assault on our country."
Read:Here are the details on Trump's tariffs on steel and aluminum (http://www.marketwatch.com/story/here-are-the-details-on-trumps-tariffs-on-steel-and-aluminum-2018-03-08).
His remarks referenced President William McKinley, the 25th president who introduced tariffs, as well as enterpreneur Elon Musk, who tweeted approvingly about the tariffs on Thursday (http://www.marketwatch.com/story/elon-musk-to-trump-on-import-duties-an-olympic-race-wearing-lead-shoes-2018-03-08).
'I HAVE A FEELING YOU'LL BE BACK'
At a cabinet meeting, Trump turned to Cohn and said "I have a feeling you'll be back." The head of the National Economic Council, Cohn is leaving amid a battle over tariffs, which Trump referenced in televised remarks. "He's not quite as strong on those tariffs as we want him to be," Trump said.
Cohn and Trump reportedly discussed the possibility (https://www.nytimes.com/2018/03/06/us/politics/gary-cohn-resigns.html) of the former Goldman Sachs (GS) executive replacing John Kelly as White House chief of staff before he decided to resign.
Trump met with the heads of ZeniMax Media and Take-Two Interactive (TTWO) , as well as Sen. Marco Rubio of Florida and other lawmakers to discuss "violent video-game exposure and the correlation to aggressive and desensitization in children," according to the White House.
It was the latest gun-related meeting Trump has convened in the wake of the Feb. 14 school shooting in Parkland, Fla., that left 17 people dead. Polling of gun owners finds nearly six in 10 (http://www.pewsocialtrends.org/2017/06/22/views-of-guns-and-gun-violence/)believe the amount of violence in video games contributes to gun violence in the U.S.
-Robert Schroeder; 415-439-6400; AskNewswires@dowjones.com
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03-08-18 1645ETCopyright (c) 2018 Dow Jones & Company, Inc.