Global Markets: Trump expected to announce tariffs on steel and aluminum

By Commodity News Service Canada
WINNIPEG, Mar. 1, 2018 (CNS) – The following is a glance at the
news moving markets in Canada and globally.
United States President Donald Trump is set to gather
rivals from the oil and corn industries for the second time this
week on Thursday for a meeting, as the administration tries to
seek common ground on reforms to the U.S. Renewable Fuel
Standard. The first meeting held on Tuesday did not result in a
resolution. Sources with the refining industry said they do not

expect a breakthrough to be made Thursday.
Trump is scheduled to make an announcement with wide-
ranging implications for the global economy as early as Thursday
morning. The announcement will detail a decision on tariffs for
steel and aluminum. Trump tweeted Thursday morning stating that
the steel and aluminum industries needed “free, fair and smart
trade”, adding to expectations he would announce tariffs on
foreign imports.
The pace of growth in the Canadian manufacturing sector
eased modestly in February as new orders dipped, though the
measure of employment rose to its highest level in six months,
according to new data released Thursday. The Markit Canada
Manufacturing Purchasing Managers’ index, a measure of
manufacturing business conditions, declined to a seasonally
adjusted 55.6 in February from 55.9 in January. The gauge of
employment rose from 59.9 to 56.

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