U.S. Will Impose Steel, Alumnium Tariffs on EU, Canada and Mexico
WASHINGTON -- President Trump is expected to pass tariffs today on Canada, Mexico and Europe.
A source tells CNBC the President will likely impose steel and aluminum tariffs this morning, and expects the European Union to retaliate.
Metal producers in those countries were granted an exemption from Trump tariffs earlier this year, but the exemptions are due to expire Friday.
U.S. Commerce Secretary Wilbur Ross met with EU officials in Paris Wednesday, but those negotiations apparently failed.
This morning, the French Foreign Minister said Europe will take "all necessary measures" to respond to U.S. tariffs. The EU has previously said it would impose tariffs on U.S. products such as jeans and motorcycles.
The tariffs are expected to go into effect at midnight.
(Photo by Vasiliy Maximov/AFP/Getty Images.)