The Latest: Trump Says He'll Double Planned Tariffs On Canadian Aluminum And Steel

U.S. President Donald Trump says he'll double planned tariffs on Canadian aluminum and steel, sticking with a trade war despite Monday's stock market drop.

Meanwhile, Republicans face a critical test of their unity when a spending bill that would avoid a partial government shutdown and keep federal agencies funded through September comes up for a vote. Speaker Mike Johnson is teeing up the bill for a vote as soon as Tuesday despite the lack of buy-in from Democrats, essentially daring them to oppose it and risk a shutdown that would begin Saturday if lawmakers fail to act.

Here's the latest:

Wall Street scrapes 10 below its record after Trump's latest tariff threat worsens its sell-off

The SP 500 earlier sank as much as 1.5 Tuesday before paring its loss to 1.4, which put it 9.9 below its record. The Dow Jones Industrial Average was down 711 points, or 1.7, as of 1:32 p.m. ET, and the Nasdaq composite was 1.2 lower.