Top Stories: Trump’s Tariffs and SoftBank’s Investment in GM Cruise

President Trump just announced new steel and aluminum tariffs on Canada, The European Union, and Mexico, which are 25% on imported steel and 10% on imported aluminum, and these will take effect at midnight tonight. The European Union responded by calling the move “protectionism” and stating that it would impose “additional duties on a number of imports from the U.S,” and Mexico was not too far behind with its response, stating that it will “impose equivalent measures to various products.” So we are back to the trade war rhetoric, and seemingly getting closer to it becoming a reality. Of course this does help U.S. Steel (X) and Alcoa (AA), while seemingly hurting a lot of purchasers of steel and aluminum.