Washington DC, July 8 -- US President Donald Trump on Monday (local time) said that the proposed tariff arrangements are intended to ensure fairness and are open to negotiation if other countries are willing to make a fair deal.

"We're always subject to negotiations when something is fair, but we've talked to most of the countries. Pretty much they have had their way for many, many decades. It was time that we just wanted fairness. This is not really equitable from our standpoint because this is a small token by comparison to damages been done over the years but we had no other president that was willing to do this, but I did it," he said.

He added that his second term would outperform his first in terms of tariff collection and economi...