US tariff to have little impact on global economy

Stiff tariffs: Stored rolls of steel are seen outside the ArcelorMittal Dofasco plant in Hamilton, Ontario, Canada. Canada is one of the countries exempted from US tariffs on steel and aluminium. — Reuters

AFTER weeks of speculation, it became official – US President Donald Trump has signed an order to slap a 25% tariff on global steel imports and 10% on aluminium, acting on the Commerce Department’s recent recommendation.