WHAT’S NEWS
U.S. Steel and Aluminium Tariffs on Canada, Mexico, EU
Starting Friday, steel and aluminium products from Canada, Mexico and the European Union are subject to the same tariffs as most other nations when imported into the U.S. – WSJ
Trump metals tariffs make Granite City great again. Granite City was created in 1896, after the implementation of the 1890 McKinley Tariff Act, which increased protective duties, acting as a catalyst for the nascent U.S. domestic steel industry. Today United States Steel Corp is re-hiring or recruiting as it readies for production in mid-June at a blast furnace it idled in 2015. – Reuters
“Europe United” in Retaliatory Measures
Brussels vows to hit back at US tariffs with measures of its own. Cecilia Malmstrom, European trade commissioner, said the EU “had closed the door” on talks to partially liberalise parts of EU-US trade after the tariff exemption ran out. She added: “We are not going to enter into any negotiations. When they say American first, we say Europe united”. – FT
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