Trump’s Higher Steel Tariffs Sour Mood at Deal-Making Table
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President Donald Trump’s doubling of US tariffs on steel and aluminum imports to 50% is fanning trade tensions at a time when Washington is negotiating with several economies that also face his so-called “reciprocal” duties set to kick in July 9.
In Europe, the fallout Wednesday was quickly heard in a warning from Voestalpine, an Austrian steelmaker that missed profit expectations for the past fiscal year because of soft economic activity in Europe.