Trump trade war expands globally as 25% tariffs on aluminium and steel take effect

Donald Trump’s trade war has expanded to cover the world, with 25% tariffs on all steel and aluminium imports to the US in effect from today. The duties were announced in mid-February as stock market investors cheered President Trump’s ‘America first’ agenda which saw only Mexico, Canada and China come under initial pressure. While two rounds of tariffs on China have been enacted, 25% duties on some Canadian and most Mexican cross-border trade have been withdrawn until 2 April at the earliest. The tariffs beginning today are designed to protect US manufacturing and bolster jobs by making foreign-made products less…