Original article by John Kehoe
The Australian Financial Review – Page: Online : 2-Mar-18
The Dow Jones Industrial Average fell sharply after US President Donald Trump announced plans to impose a 25 per cent tariff on imported steel and a 10 per cent tariff on foreign aluminium. His announcement came less than one hour after Federal Reserve chairman Jerome Powell had told US legislators that he did not think tariffs were the best way of addressing the possible negative side-effects of international trade. Trump’s announcement is not expected to be well-received by China.
DOW JONES INDUSTRIAL AVERAGE INDEX, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, UNITED STATES. FEDERAL RESERVE BOARD, BLUESCOPE STEEL LIMITED – ASX BSL, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, FARR, MILLER AND WASHINGTON LLC, US STEEL MINING COMPANY INCORPORATED, CENTURY ALUMINIUM COMPANY, CATERPILLAR INCORPORATED, BOEING COMPANY, ALLIANZ GLOBAL INVESTORS US, OXFORD ECONOMICS LIMITED