US inflation falls to 2.8%; Apac hit with Trump's steel, aluminium tariffs; EU, Canada retaliate
US inflation was lower than expected in February; the 2.8% read came as the US introduced global 25% tariffs on steel and aluminium imports; and then the EU and Canada retaliated; in Apac, Australian and Korean steelmakers are most at risk.
The US annual inflation figure came in at 2.8% in February compared with 3% in January with the consumer price index up 0.2%, according to the Bureau of Labor Statistics. It will be a welcome relief after the higher than expected figure in January.
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