Ryan's remarks came a couple hours after Trump tweeted that "Tariffs are the greatest!" and threatened to impose additional penalties on USA trading partners.
Sen. Ron Johnson, R-Wis., said Tuesday he has heard from a number of businesses in his state that the primary beneficiaries of Trump's tariffs are overseas competitors that aren't being hit with higher prices on their materials. America's farmers don't want to be paid to lose - they want to win by feeding the world.
And on Tuesday, Trump announced plans to impose 10 percent tariffs on an additional $200 billion in Chinese imports by the end of August. China has retaliated with duties on soybeans and pork, affecting Midwest farmers in a region of the country that supported the president in his 2016 campaign.
President Trump on the state of the economy and efforts to improve USA trade deals.
His comments come as the president is engaged in tough talk on trade with China, Canada and many European nations.
What Trump said about Russian Federation today versus alongside Putin at summit
Trump will meet with members of Congress on Tuesday after many lawmakers criticized his performance at the summit , the White House said.
Products from every one of the 50 states - from candy to crab pots to horseshoes and space suits - will be on display at the White House for Monday's "Made in America Product Showcase". After Trump hit China with tariffs, they responded with a 179 percent retaliatory tariff on us sorghum.
In the past four months, Trump has imposed tariffs against steel and aluminum imports from China, Canada, Mexico, the European Union, Japan, and a range of other countries, and he is threatening to broaden the scope of the tariffs to cars and uranium imports, among other things. He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that previous year totaled $335 billion.
Trump has threatened to place tariffs on up to $500 billion in products imported from China, a move that would dramatically ratchet up the stakes in the trade dispute involving the globe's biggest economies. "The fact that other countries are bad at economics-and harm their own people with tariffs and other protectionist schemes-does not justify our own economic incompetence".
Trump's message comes ahead of his meeting with European Commission President Jean-Claude Juncker in Washington, D.C. on Wednesday.
Soy prices have fallen particularly hard in the past few months, though Trump has tried to deflect blame and promised to somehow take care of these farmers, many of whom are from politically crucial states like Iowa and Wisconsin.
Trump has placed tariffs on imported steel and aluminum, saying they pose a threat to US national security, an argument that allies such as the European Union and Canada reject.