Ryan targets Trump tariffs with email highlighting story on stock drops

Ryan targets Trump tariffs with email highlighting story on stock drops
© Greg Nash

Speaker Paul RyanPaul Davis RyanYou just can't keep good health policy down Trump blasts Congress for sending him omnibus bill that 'nobody read' Students bash Congress for inaction on gun control MORE’s (R-Wis.) office on Monday highlighted a drop in the stock markets caused by President TrumpDonald John TrumpScarborough mocks 'Deflection Don' over transgender troop ban Pelosi condemns Trump's 'cowardly, disgusting' ban on transgender troops Trump moves to ban most transgender people from serving in military MORE’s decision to levy steep tariffs on steel and aluminum imports.

Ryan's office sent out an email with a CNBC story showing that the Dow Jones industrial average fell more than 100 points at the opening bell Monday over concerns that Trump will implement tariffs of 25 percent on steel and 10 percent on aluminum imports without any exceptions.

After Trump announced the tariffs last week, Ryan was among congressional Republicans who urged the president to consider the unintended consequences of such an action on the U.S. economy.

With critics raging and markets roiling on the news that Trump would make a formal announcement this week, the president tweeted about the issue on Monday morning.

Trump appeared to focus a threat on Canada and Mexico’s willingness to move forward on the North American Free Trade Agreement — a deal the two countries and the U.S. were negotiating last week in Mexico City.

"Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed," Trump tweeted, adding, "Mexico must do much more on stopping drugs from pouring into the U.S. They have not done what needs to be done."