Skip to content
Subscriber Only

Trump’s Steel and Aluminum Trade Threat Hangs Over Nafta Talks

  • U.S. decision risks trade war amid talks with Canada, Mexico
  • Goal to reach deal by end of month looks increasingly remote
Bloomberg business news
Evercore ISI's Hyman Sees Prospects of a Trade War as 'Really Scary'

President Donald Trump’s latest trade salvo over steel and aluminum landed squarely in the middle of Nafta talks, overshadowing efforts by his own negotiators and those from his biggest export markets to update America’s most important free-trade agreement.

After a day of will-he-or-won’t-he chatter, Trump announced Thursday he intended to slap tariffs of 25 percent on steel imports and 10 percent on aluminum imports. Specifics are unclear, including whether some countries may still be exempt, but the implications rippled through the seventh round of talks on the North American Free Trade Agreement in Mexico City.