US plan to impose tariffs on steel is violating WTO rules

German Steel Association responds to Trump tariffs

The German Steel Association, is responding to the Trump tarriffs, but saying:

• US plan to impose tariffs on steel imports is violating WTO rules
• European Union must now resolutely proceed against US import tariffs by using WT oh instruments

Meanwhile the Canadian steel producers Association president is saying:

• Not yet known if Canada exempt from US steel tariff

The Dow is down now over 2% or -500 ppints. The NASDAQ is down -1.85% or 134 points. The S&P is down -1.75% or -47 points.

Below are the 11 S&P sectors and the respective declines. The Technology sector is leading the downside tumble with a -2.31% fall, followed by industrials and healthcare. Financials are also getting hit.