Trump's impending tariffs on steel and aluminum send market tumbling

Traders at the New York Stock Exchange.
(Image credit: Spencer Platt/Getty Images)

President Trump announced Thursday that next week he will formally impose a tariff of 25 percent on steel imports and 10 percent on aluminum imports — news that sent the Dow Jones Industrial Average tumbling more than 500 points, or more than 2 percent.

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Jeva Lange

Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.