Dubai-owned ports and logistics company DP World’s CEO Sultan Ahmed bin Sulayem said on Tuesday U.S. President Donald Trump expects other markets to be open if the United States is.

Trump is looking for fair trade, not free trade, he said during the World Government Summit in Dubai.

The U.S. leader substantially raised tariffs on steel and aluminium imports on Monday to a flat 25% in a move he hopes will aid the struggling industries in the United States but which also risks sparking a multi-front trade war.

The tariffs will apply to millions of tons of steel and aluminium imports from Canada, Brazil, Mexico, South Korea and other countries.

The move will simplify tariffs on the metals “so that everyone can understand exactly what it means”, Trump told reporters.
Source: Reuters