Trump to Impose Steep Tariffs on Steel, Aluminum; Stokes Trade War Fears

(From Reuters)

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.

Fears of a trade war triggered a selloff on Wall Street.

Trump said the duties, 25 percent on steel imports 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.

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