TRUMP TARIFFS ON STEEL , ALUMINUM A DISASTER FOR THE U.S ., THINK TANK SAYS

What happened: A Montreal Economic Institute report says Trump's steel and aluminum tariffs have been a "disaster" for the U.S. economy, fuelling inflation without spurring promised industry growth. Key numbers: U.S. steel prices up 33.9 per cent since February 2025, aluminum up 58 per cent. Tariffs were 25 per cent in March, later raised to 50 per cent. Over 19 months, U.S. Why it matters: The report says higher input costs have hit autos, aircraft, construction and machinery, and are affecting U.S. investment decisions, with some producers buying from China instead of expanding.

A Montreal Economic Institute report says Trump's steel and aluminum tariffs have been a "disaster" for the U.S. economy, fuelling inflation without spurring promised industry growth.

The report says higher input costs have hit autos, aircraft, construction and machinery, and are affecting U.S. investment decisions, with some producers buying from China instead of expanding.