Trump says US to impose hefty tariffs on steel, aluminium imports

US President Donald Trump announced on Thursday he would impose tariffs of 25 per cent on imported steel and 10 per cent on aluminium, in a move the administration said would protect US industry, but which critics said would fail to boost jobs and risked stoking a trade war with China. Trump, speaking after a meeting with US steel and aluminium makers said the duties would be formally announced next week. “We’re going to build our steel industry back and our aluminium industry back," he said. News of the tariffs drove the stocks of US domestic steel and aluminium makers sharply higher, but also hit sentiment on Wall Street due to the potential impact of higher costs on consumers. The move, which came after what one person with direct knowledge of the discussions described as a night of "chaos" in the White House due to frequent switching of positions in the administration, was sharply criticised by some senior Republican legislators. “Every time you do this, you get a retaliation. Agriculture is the number one target. I think this is terribly counterproductive for the agriculture economy," said Senator Pat Roberts, who chairs the chamber's agriculture committee. China has...