House Speaker Paul Ryan said on Tuesday that he would urge the president to adopt a “more surgical” approach to tariffs and to specifically address China and other abusers of global trade rules. Meanwhile, White House Press Secretary Sarah Huckabee Sanders, in brief comments to reporters Friday morning, acknowledged that some details still "needed to be finalized" on the plan, but said Trump remained "pretty committed" to his announcement. The speaker is “extremely worried about the consequences” and is urging the White House “to not advance with this plan,” according to a statement issued by his office. You’re going to see an effect here, if they go through, but … this is not going to be the end of the world,” said Scott Wren, senior global equity strategist with the Wells Fargo Investment Institute in St. Louis.“If it does turn into a trade war, that’s a different story.”—Agencies The tariffs are unlikely to significantly hurt Corporate America’s overall earnings, according to stock market strategists, who were not immediately adjusting their profit estimates following Trump’s announcement. Ryan notes through his spokeswoman that the new tax overhaul “has boosted the economy and we certainly don’t want to jeopardize those gains.”

The statement from the top Republican in the House comes as the Trump administration is arguing that the tariffs are needed to preserve American steel and aluminum and warning that North American neighbors Canada and Mexico will not get any relief unless they agree to a fair trade deal.
Republicans raise concern about U.S. President Donald Trump's plan to impose tariffs on metal imports. Speaker of the House Paul Ryan says he is "extremely worried" about the impact of a trade war, adding that it could "undermine economic gains".