The United States says it will require tariffs on steel and aluminum imports from Europe, Mexico and Canada. U.S. officials announced the tariffs are a result of their failure to win trade concessions. Officials said the import taxes would take effect on Friday. The announcement led to promises of action from major American allies, rising trade tensions and a drop in stock prices. President Donald Trump had announced the tariffs in March. Trump said they were needed to protect the United States from unfair competition. But he delayed the measure to give time for negotiations. The tariffs will be 25 percent on imported steel and 10 percent on aluminum. Europe and Mexico reacted to the U.S. move with their own lists of tariffs on American products, raising fears of a trade war among allies.
