Business this week

Donald Trump’s intent to impose tariffs of 25% and 10% on steel and aluminium imports precipitated talk of a new trade war. China warned that it would retaliate in an “appropriate” way, but the announcement also rattled America’s allies. Republicans pushed back against the idea in an open letter. Paul Ryan, the Speaker of the House of Representatives, publicly called on the White House to drop the plan. The Aluminium Association, representing 114 American companies, was also opposed, warning that tariffs could cause job losses in downstream manufacturing. See article.