US president Donald Trump has said he will place a 10% tariff on steel, and 25% on aluminium imports, in a move which has been applauded by the country's steel industry. However, the levies, which are likely to affect US allies including China, Canada and the European Union, have prompted threats of retaliation and warnings of a trade war which could hurt other areas of US industry. House Speaker Paul Ryan said he hoped Trump would "consider the unintended consequences of this idea and look at other approaches before moving forward".
US president Donald Trump has said he will place a 25% tariff on steel, and 10% on aluminium imports, in a move which has been applauded by the country's steel industry. However, the levies, which are likely to affect US allies including China, Canada and the European Union, have prompted threats of retaliation and warnings of a trade war which could hurt other areas of US industry. House Speaker Paul Ryan said he hoped Trump would "consider the unintended consequences of this idea and look at other approaches before moving forward".