OTTAWA, March 14. /TASS/. The United States intends to reset its bilateral trade relations with all foreign partners, but Washington is not aiming at waging trade wars, said Secretary of State Marco Rubio.
"There's not a trade war. This is the United States resetting its trade relations globally," he told a news conference after a summit of G7 foreign ministers.
He said the US were resetting its trade relations "to a level of equilibrium," based on the principle of reciprocity, or compensating for the existing and expected US losses by increasing import duties. "And then once that's reset, we can then engage in the process of bilateral talks with Japan, with the UK, with France, with Germany, with the EU, whoever, to figure out, how we reset our trade relations so that it's fair, " Rubio said.
The current President of the United States, Donald Trump, has repeatedly said he is willing to levy new import duties on almost all other countries actively. On February 13, he imposed retaliatory customs duties on all foreign trade partners who use this protectionist tool against US products. Trump noted that the United States will adhere to the principle of reciprocity in trade with all countries.