INTERVIEW — STEVE MOORE — Heritage Foundation economist discuss the Trump administration’s tariffs.

• Stock market sinks after Trump announces new tariffs (The Hill) — The Dow Jones industrial average sank 250 points Thursday morning after President Trump announced that he would impose steel and aluminum tariffs on Canada, Mexico and the European Union. The S&P 500 dropped 0.5 percent.
• Justin Trudeau Says Canada Will Retaliate Against US Over Trump’s Steel Tariffs (Daily Caller) — Canadian Prime Minister Justin Trudeau called President Donald Trump’s steel tariffs against his country’s products “inconceivable” and threatened to retaliate in kind within the coming months. Trudeau called Trump’s protectionist gambit “totally unacceptable” during a Thursday afternoon press conference. It is “inconceivable” that “Canada could be considered a national security threat to the United States,” he added. Canada will impose tariffs against American steel and aluminum in the amount of $16.6 billion at rates of 25 percent and 10 percent, a number representing the total value of Canada’s 2017 steel and aluminum U.S. exports. They’ll go into effect on July 1 and stay in place until the U.S. ends its own tariffs.
• Mexico fires back at Trump by imposing own tariffs on many products (The Hill) — The government of Mexico announced on Thursday it would implement new duties on various U.S. products in response to President Trump’s decision to levy steel and aluminum tariffs on the country. “Mexico reiterates its position against protectionist measures that affect and distort international commerce in goods,” the government said in a statement. “In response to the tariffs imposed by the United States, Mexico will impose equivalent measures to various products like flat steels (hot and cold foil, including coated and various tubes), lamps, legs and shoulders of pork, sausages and food preparations, apples, grapes, blueberries, various cheeses, among others, up to an amount comparable to the level of affectation.” The announcement comes after U.S. Commerce Secretary Wilbur Ross said the administration had decided to end temporary exemptions on tariffs for Mexico, the European Union and Canada.
• President Trump’s strict stance on trade could put 2.6 million American jobs at risk, the head of the Chamber of Commerce says (CNN) — President Trump’s strict stance on trade could put 2.6 million American jobs at risk, the head of the Chamber of Commerce says. Tom Donohue, president and CEO of the business organization, issued the forecast in a memo to the board of directors Thursday that was obtained by CNNMoney. The memo, citing outside studies, adds the possible job losses from tariffs both threatened and enacted by the administration, plus a possible US withdrawal from NAFTA, the trade agreement with Canada and Mexico.
• US allies vow to retaliate over Trump’s metal tariffs via @nypost. US allies Canada, Mexico and Europe said they would retaliate by imposing their own penalties on American goods​ after the Trump administration on Thursday placed tariffs on steel and aluminum. Commerce Secretary Wilbur Ross announced the tariffs — 25 percent on imported steel and 10 percent on aluminum — and said they would take effect Friday. Canadian Prime Minister Justin Trudeau called the tariffs “totally unacceptable” and an affront to an ally that has fought alongside American forces for decades. “Canada buys more American steel than any other country in the world, half of US steel exports,” ​he said​. “Canada is a secure supplier of aluminum and steel to the US defense industry, putting aluminum in American planes and steel in American tanks. That Canada could be considered a national security threat to the United States is inconceivable.”