Allies Hit Back At U.S. For Tariffs On Steel & Aluminum

Canada and Mexico are retaliating against the United State’s decision on Thursday to impose tariffs on steel and aluminum imports. The European Union also had its own reprisals ready to go, reigniting investor fears of a global trade war. The tariffs were announced by U.S. Commerce Secretary Wilbur Ross in a telephone briefing on Thursday. The announcement ended months of uncertainty about potential exemptions. It also shows a hardening of the Trump administration’s approach to trade negotiations. President Trump praised the measures in March, but they drew criticism from Republican lawmakers and the country’s main business lobbying group.