MARKET PROTECTIONISM
US President Donald Trump announced on Thursday he would impose hefty tariffs on imported steel and aluminium to protect US producers, risking retaliation from major trade partners like China, Europe and neighbouring Canada as well as helping to trigger a large selloff on Wall Street.
Trump said the duties of 25% on steel and 10% on aluminium would be formally announced next week although White House officials later said some details still needed to be ironed out.
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