Canada and Mexico are the leading exporters of steel to the US, but most of their products likely can be readily produced in the US, Bloomberg Intelligence analysis shows.

President Donald Trump signed an executive order Tuesday directing the Commerce Department to open an investigation into new potential tariffs for copper imports. The move came after the president placed 25% tariffs on steel and aluminum imports earlier and announced plans for a new reciprocal tariff strategy.

In a bid to persuade the United States to exempt Australia from its steel and aluminium tariffs, Treasurer Jim Chalmers has met with American officials in Washington DC.