TRUMP ANNOUNCES TARIFFS ON STEEL & ALUMINUM

  The U.S. president on Thursday announced tariffs of 25 per cent on steel and 10 per cent on aluminum. The move is by far his most consequential move on trade to date — though crucial details remain unclear.
  President Trump said that he is going to put tariffs on steel and aluminum from every other country, an act that could cause significant harm to Canadian producers, raise prices for U.S. consumers and prompt an escalating round of international retaliation.
  Trump, who campaigned on a tough stance toward China, has argued that he needed to act on steel because of China’s “dumping” of unfairly cheap steel into the U.S. But China is merely the 11th-largest exporter of steel to the U.S. Canada has long been number one; more than 85 per cent of its steel exports, worth about $6 billion, are to the U.S.