The Hershey Co.

World bracing for risk of Trump's trade war

President Donald Trump's plan to slap taxes on steel and aluminum imports was branded Friday as "absolutely unacceptable" by Prime Minister Justin Trudeau of Canada, the United States' biggest foreign source of both metals.

Trump hasn't sparked a trade war — yet. But his provocative action has raised the risk of an all-out conflict that could pit the United States against its friends and the entire global financial system that it helped create after World War II. When Trump announced Thursday he was imposing a 25 percent tariff on steel and 10 percent tariff on aluminum on national security grounds, he set into motion the possibility that trading partners would fight...