Trump's steel and aluminium tariffs rattle makers of the metals
U.S. President Donald Trump's plan to impose new 25% tariffs on all imports of steel and aluminium into the United States weighed on shares of producers in Asia on Monday as it threatened to disrupt trade flows in the metals. The tariffs, which Trump said would be announced on Monday and be in addition to existing duties, sparked warnings from steelmakers in Asia about the impact on prices, profitability and volumes and broader worries that they could push up inflation and drag on economic activity. Canada, Brazil, Mexico, South Korea and Vietnam are the biggest sellers of steel into the U.S., according to government and American Iron and Steel Institute data, while Canada is the dominant supplier of imported aluminium.