Guinea’s junta urges miners to help break “resource curse”

It’s said that in China, a new skyscraper is built every five days.

Canada, the biggest foreign supplier of steel and aluminum to the United States, quickly pledged to retaliate if necessary.

U.S. President Donald Trump struck a defiant tone on Friday, saying trade wars were good and easy to win, after his plan to put tariffs on imports of steel and aluminium triggered global criticism and a slide in world stock markets.

China has indicated it could retaliate against US steel tariffs by targeting imports of US agricultural commodities.

The proposed acquisition also includes an offer for Rio’s 53% stake in the Aluchemie anode plant in the Netherlands and its 50% share in the Alufluor aluminum fluoride plant in Sweden.

The Commerce Department last week revealed its import restriction options for Trump, including a 7.7% global aluminum tariff on products from all countries.

Asia’s No.1 carmaker has developed a magnet that reduces dependence on neodymium, a key rare earth metal used in the world’s most powerful batteries for electric vehicles.

Base metals should continue to do well in 2018 along with the US steel industry, though American coal will continue to lose ground to natural gas. 

Some U.S. lawmakers and steel and aluminum users have urged caution in any restrictions to avoid disruptions or price spikes in the raw materials.