Trump's 25% Tariffs On All Steel And Aluminum Imports Go Into Effect

1 week ago President Donald Trump has increased tariffs on steel and aluminum imports to 25%, triggering a response from Canada. Trump has promised the taxes will help create U.S. factory jobs when his seesawing tariff threats are jolting the stock market and raising fears of an economic slowdown. Wednesday's move eliminates exemptions from his 2018 tariffs on the metals and increases the tariffs on aluminum from 10%. The Republican president has separate tariffs on Canada, Mexico and China, with plans to tax imports from the European Union, Brazil and South Korea by charging “reciprocal” rates starting April 2. Canada is the largest foreign supplier of steel and aluminum to the U.S. and responded with its own countermeasures.