You are here: Home » Economy & Policy » News
Business Standard

Donald Trump stokes trade war talk, plans steep tariffs on steel, aluminum

Trump said the duties of 25 percent on steel and 10 percent on aluminum would be formally announced next week although White House officials later said some details still needed to be ironed out.

Reuters  |  WASHINGTON 

President Donald Trump announced on Thursday he would impose hefty tariffs on imported steel and aluminum to protect U.S. producers, risking retaliation from major trade partners like China, Europe and neighboring Canada as well as helping to trigger a large selloff on Wall Street. Trump said the duties of 25 percent on steel and 10 percent on aluminum would be formally announced next week although White House officials later said some details still needed to be ironed out. Trump believes the tariffs will safeguard American jobs but many economists say the impact of price ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Fri, March 02 2018. 06:45 IST
RECOMMENDED FOR YOU