The president said he would impose the levies if the European Union did not walk back plans to place retaliatory tariffs on whiskey and other U.S. products.
Most economists expect fresh trade barriers to raise prices for U.S. businesses and households, which could lead to a temporary burst of higher inflation.
President Trump imposed a 25 percent tariff on metal imports. The move is expected to raise costs for U.S. manufacturers of cars, solar panels and other products, potentially slowing the economy.
President Trump imposed a 25 percent tariff on metal imports. The move is expected to raise costs for U.S. manufacturers of cars, solar panels and other products, potentially slowing the economy.
The president had threatened to hit Canadian metals with 50 percent tariffs but opted not to go ahead after Ontario lifted a charge on U.S. electricity.
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