Liberal Democrat leader Sir Ed Davey has urged the UK to hit back against the US if Donald Trump slaps tariffs on British steel and aluminium exports. The UK has so far declined to join the EU and Canada in threatening immediate retaliation if a planned 25% import tax comes into force next month.

Harvard Kennedy School’s Mossavar-Rahmani Center for Business and Government (M-RCGB) hosted a panel discussion where economists discussed the potential ramifications of tariffs proposed by the Trump administration.

President Trump has continued his threats to place reciprocal tariffs on countries that impose tariffs on the United States.

It is the first time all 13 premiers have travelled to the American capital together. Ontario Premier Doug Ford, chair of the Council of the Federation, appealed to members of the U.S. Chamber of Commerce Tuesday to send a message to Trump that tariffs would hurt both the American and Canadian economies.

Patriotic sentiment is bursting in Canada after President Trump’s threat to apply hefty tariffs and even annex the country. The damage to the two nations’ relationship could be lasting.

U.S. stocks are slipping Tuesday following President Donald Trump’s latest escalation against the United States’ trading partners with tariffs. The S&P 500 was edging down by 0.2% in the U.S. stock market’s first trading since Trump announced 25% tariffs on all foreign steel and aluminum coming into the country.