He said "We know the tremendous effort that steel and aluminum workers put in every day to provide for their families, support their communities, and build businesses that are competitive in the global market".
"Tillerson was a steady hand". "But it's consistent with what the president said not just during the campaign, but for decades".
Donald Trump's election to the White House was precipitated by campaign promises to introduce protectionist measures for U.S. industry. Dimon called Tillerson "hugely competent".
Despite speculation that this could refer to activities such as so-called freedom-of-navigation operations - or "FONOPs" - in the South China Sea, such operations would not require any kind of agreement with the US.
The bloc says that it's a close ally of the USA and therefore any import levies on national security grounds are unjustified.
If tariffs on unfair steel and aluminum competitors are a bad idea, how do we ensure USA manufacturers face exactly the same obstacles to entry into foreigners' markets as they face entering ours? His tweet - "trade wars are good and easy to win" - reflects the mindset behind the misadventure. Based on Section 232 of the Trade Expansion Act, the stiff tariffs will apply to all countries, except Mexico and Canada, with negotiations on NAFTA now underway.
"For countless Americans, this agreement has failed", he said in August.
But "it introduces a lot of uncertainty", says Wendy Cutler, a former USA trade official now at the Asia Society Policy Institute.
The White House is reportedly still drawing up the legal paperwork for an executive order that would bring the tariffs into effect. But they've stalled over tough USA demands, including the administration's insistence that more auto production be shifted to America.
Analysts are split on whether Trump will ever actually risk blowing up the economy with a big trade fight, an action which economists widely warn is awful policy. And Tillerson's replacement, CIA Director Mike Pompeo, was once a congressman from Kansas, a state that depends heavily on trade with Mexico and Canada. They argue that perhaps Kudlow, a longtime friend of Trump's, can talk Trump out of his most extreme trade threats.
VG: It really depends on what the U.S. will do. "And if you can't get it from domestic sourcing, you're dependent upon foreign governments for your basic existence".