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WASHINGTON, March 1-- U.S. President Donald Trump said here on Thursday that he would impose tariffs on imports of steel and aluminum products, in a move he said would protect U.S. industry, but which experts said could hurt U.S. producers and face legal challenges from trade partners. The United States is set to impose 25 percent of tariff on steel imports and 10 percent for aluminum, Trump said after a meeting with business executives. "We'll be signing it next week. And you'll have protection for a long time in a while," said Trump. News of the tariffs immediately hit sentiment on the Wall Street, with the Dow slumping over 500 points, more than 2 percent, in late trading. Daniel Ikenson, a senior fellow at the Cato Institute, said on Thursday that trade restrictions could hurt U.S. producers by exposing them to competitions from foreign rivals with lower production costs capable of offering lower prices in the U.S. market. U.S. actions would face legal challenge by other World Trade Organization members, and they would also invite other members to invoke national security to protect favored industries, said Ikenson. European Union (EU)'s trade chief Cecilia Malmstrom has said that EU would seek retaliation measures if the Trump administration's 232 trade investigation brings damage to European steelmakers. It's still unknown whether Trump's announcement on Thursday refer to blanket tariffs for all countries. | 
