Donald Trump, steel and tariffs
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By Saeed Azhar, Kanchana Chakravarty and Sukriti Gupta NEW YORK (Reuters) - Wall Street's main indexes were mixed on Monday after President Donald Trump said he plans to double tariffs on imported steel and aluminum,
6hon MSN
Key TakeawaysThe S&P 500 added 0.4% on Monday, June 2, with steel tariffs and trade with China in the spotlight as markets entered the final month of the year's opening half.Comments by President Donald Trump about doubling tariffs on imported steel helped boost steelmakers' stocks,
The so-called TACO trade will be tested as markets wait to see if Trump will actually follow through with his latest threat or if he will put it on hold soon.
The impact from U.S. President Donald Trump's plan to increase tariffs on steel and aluminium products is likely to be "minor" as India does not export steel to the U.S. "in a big way", federal steel minister HD Kumaraswamy said on Monday.
Trump’s latest tariff move sparked anger across the border, as Canada’s Prime Minister Mark Carney had only last month travelled to the White House to repair relations frayed after Washington imposed heavy levies on its biggest trading partner.