Trump signs sweeping tariffs, defying trade war warnings 29 SHARES Share it! Share TweetBy Agence France-PresseUS President Donald Trump slapped steep trade tariffs on foreign steel and aluminum Thursday, drawing sharp protests from allies at home and abroad as the contentious move raised the specter of a global trade war. Trump said the tariffs — which will come into effect after 15 days — will not initially apply to Canada and Mexico, and that close partners on security and trade could negotiate exemptions. Leaning on a little-used and decades old national security clause in US trade law, Trump said he was fulfilling a campaign promise. Even as Trump approved the tariffs, 11 partners in the Asia-Pacific were in Santiago, Chile, to sign a multilateral trade deal embraced by president Barack Obama but rejected by Trump.

Source: Manila Bulletin March 08, 2018 23:48 UTC