The United States has doubled steel and aluminium tariffs as US President Donald Trump’s intensifying trade war weighs on the world economy.
The move, which Mr Trump earlier said was aimed at protecting domestic steel and aluminium industries, takes his levies on both metals from 25% to 50%.
The US President’s sweeping tariffs on allies and adversaries alike – including levies on imported steel and automobiles – have strained US ties with trading partners, including the European Union, and sparked a flurry of negotiations to avoid the duties.
Pressure is mounting as the Organisation for Economic Cooperation and Development, a 38-nation grouping of mostly…