# U.S. hits E.U., Canada and Mexico with steel, aluminum tariffs, sparking trade war

> The US imposed 25% steel and 10% aluminum tariffs on the EU, Canada and Mexico after trade talks failed ahead of a June 1 deadline. Canadian Prime Minister Trudeau condemned the move, and Canada announced C$12.8 billion in retaliatory tariffs. Mexico and the European Commission also said they would respond, and US stocks fell sharply.

- Date: 2018-05-31 · published 2018-05-31T12:00:00.000Z
- Category: trade · region Global · magnitude high
- Page: https://feedsoft.ai/events/65226-u-s-hits-e-u-canada-and-mexico-with-steel-aluminum-tariffs-sparking-trade-war
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Canada's retaliatory tariffs and the EU and Mexico responses threaten US farm export flows, with downside risk for US grain and meal demand. Broader risk-off sentiment also pressures energy and industrial demand.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- WTI: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2018-05-31 | [Trump administration will put steel and aluminum tariffs on Canada, Mexico and the EU](https://feedsoft.ai/events/65224-trump-administration-will-put-steel-and-aluminum-tariffs-on-canada-mexico-and.md) | -2.2% | -7.3% |
| CORN | 2019-08-01 | [Trump escalates trade war with more China tariffs](https://feedsoft.ai/events/8497-trump-escalates-trade-war-with-more-china-tariffs.md) | -3.0% | -7.6% |
| CORN | 2023-08-17 | [US escalates Mexico corn trade spat with dispute panel request](https://feedsoft.ai/events/34537-us-escalates-mexico-corn-trade-spat-with-dispute-panel-request.md) | +1.2% | -1.4% |
| CORN | 2019-06-06 | [Mexican peso tanks on double hit from US trade talks and ratings \| Trade War \| Al Jazeera](https://feedsoft.ai/events/58811-mexican-peso-tanks-on-double-hit-from-us-trade-talks-and-ratings-trade-war-al.md) | +2.8% | +4.2% |
| CORN | 2017-11-07 | [Don’t Bet the Farm or the (GOP) House on a Trade War with Mexico](https://feedsoft.ai/events/67964-don-t-bet-the-farm-or-the-gop-house-on-a-trade-war-with-mexico.md) | -1.0% | -0.6% |
| SBM | 2018-05-31 | [Trump administration will put steel and aluminum tariffs on Canada, Mexico and the EU](https://feedsoft.ai/events/65224-trump-administration-will-put-steel-and-aluminum-tariffs-on-canada-mexico-and.md) | -3.2% | -11.4% |
| SBM | 2018-03-26 | [Ag sector worries Trump tariffs, tactics may spark trade war with China - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/65990-ag-sector-worries-trump-tariffs-tactics-may-spark-trade-war-with-china-agweek-1.md) | -0.2% | -1.6% |
| SBM | 2019-06-06 | [Mexican peso tanks on double hit from US trade talks and ratings \| Trade War \| Al Jazeera](https://feedsoft.ai/events/58811-mexican-peso-tanks-on-double-hit-from-us-trade-talks-and-ratings-trade-war-al.md) | +0.6% | -3.7% |

## Sources

- nbcnews.com: https://www.nbcnews.com/business/economy/u-s-hits-e-u-canada-mexico-steel-aluminum-tariffs-n878881

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.