US Steel Tariffs: Asian markets tumble after Trump plans hefty taxes
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Asia focus segment straight ahead.
US President Donald Trump said he will impose hefty tariffs on steel and aluminium imports, citing years of "unfair trading practices". The duties will be 25 percent on steel and 10 percent on aluminium. Official plans will be announced next week. The controversy caused jitters across global stock markets and risked starting a trade war. The move angered Asian manufacturers - South Korea and Japan rank among the top six steel exporters to the US.