Trump to impose 25% tariffs on steel imports, 10% on aluminum

US President Donald Trump will sign this week an order to impose 25% tariffs on steel imports from all countries and 10% tariffs on aluminum imports, the president announced at a meeting with steel industry figures on Thursday. The move came on the recommendation of the US Commerce Department last month, which also proposed an alternative 53% tariff on steel imports for 12 countries, including Egypt. In a series of tweets the following morning, Trump welcomed the prospect of a global trade war over the new policy, saying that reciprocal taxes are necessary “to protect our country.” Presidential aides have been pushing to exempt certain allies, while the EU and China are vowing retaliation to the measure, The Financial Times says. EU officials are expected to present tomorrow a “EUR 2.8 bn list of more than 100 US goods targeted for retaliation.” Trump responded by vowing to implement tariffs on European cars.