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U.S. inflation slowed last month for the first time since September even as additional tariffs on steel and aluminum that kicked in March 12 threaten to send prices higher.

The European Union announced retaliatory trade action with new duties on U.S. industrial and farm products, responding to the Trump administration’s increase in tariffs on steel and aluminum.

President Trump increased tariffs on all steel and aluminum imports to 25%, promising that the taxes would help create factory jobs at a time when his tariff threats are jolting the stock market.

If President Donald Trump’s tariffs on steel and aluminum take effect at a minute past midnight in Washington on March 12, it will mark a repeat of first-term levies — with one major difference.

Canada will keep its trade retaliation in place until the U.S. lifts its own tariffs and commits to free trade, said Mark Carney, who will succeed Justin Trudeau as Canada’s prime minister.

President Donald Trump said he was re-evaluating plans to double steel and aluminum tariffs on Canada to 50% after Ontario said it would suspend a 25% surcharge on electricity sent to the U.S.

Concern about U.S. President Donald Trump’s threats to impose tariffs on U.S. imports of Canadian oil is waning as the duties’ start date keeps getting pushed back.

Ontario’s premier announced that effective March 10 it is charging 25% more for electricity to 1.5 million Americans in response to U.S. President Donald Trump’s trade war.

Canada will keep in place its retaliatory tariffs against U.S.-made products as long as President Donald Trump persists with a trade war, said Mark Carney.

President Donald Trump is dismissing business concerns over the uncertainty caused by his tariffs and the prospect of higher prices, and isn’t ruling out the possibility of a recession.