Trump’s tariffs are a ‘huge, huge mistake’

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President Donald Trump speaks during a meeting with congressional members in the Cabinet Room of the White House February 13, 2018 in Washington, DC.

Trump said Thursday that the U.S. will impose tariffs of 25 percent for steel and 10 percent for aluminum as early as next week.

The move helped spark a 420-point drop in the Dow Jones industrial average Thursday, as shares of Boeing and General Motors and other manufacturers that use steel and aluminum fell. The Dow extended the decline on Friday, falling more than 300 points.

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