Canada, the biggest supplier of steel and aluminium to the United States, said it would retaliate if hit by US tariffs. Trump said on Thursday that a plan for tariffs of 25% on steel imports and 10% on aluminium products would be formally announced next week. Europe has drawn up a list of US products on which to apply tariffs if Trump follows through on his plan. “We held frank conversations,” a White House spokesperson said. The EU, which sees itself as a global counterweight to a protectionist-leaning Trump, spoke of countermeasures conforming with World Trade Organisation (WTO) rules.

Source: Hindustan Times March 03, 2018 00:00 UTC