U.S. companies seeking to be exempted from President Donald Trump's tariff on imported steel are accusing American steel manufacturers of spreading inaccurate and misleading information, which they fear could torpedo their exemption requests.

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U.S. Senator Ron Johnson derided the effect of President Donald Trump's tariffs during a round-table discussion with a cross-section of Wisconsin companies on Monday, saying he was unsure what the administration hoped to accomplish with the policy.

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With new tariffs imposed on imported steel and aluminum, the cost of construction materials rose again in June.

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So is this what a trade war looks like?

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President Donald Trump wants to rebuild the country's transportation system. He also wants to strengthen the U.S. steel industry by placing tariffs on imports.

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The Trump administration announced on Thursday it will impose tariffs on steel and aluminum imports from Europe, Mexico and Canada after failing to win concessions from those U.S. allies. Europe and Mexico pledged to retaliate quickly, exacerbating trade tensions across the Atlantic and within North American. Financial markets fell amid fears of a trade war.

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The European Union, Australia, Argentina, Brazil and South Korea are among the countries that will get an initial exemption from looming steel and aluminum tariffs from the Trump administration, U.S. Trade Representative Robert Lighthizer said Thursday.

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The price of construction materials and other inputs rose again in February, driven in part by an increase in the cost of steel and aluminum.

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Gov. Scott Walker says President Donald Trump's commerce secretary says exemptions to steel and aluminum tariffs could be granted to alleviate the concerns of Wisconsin companies.

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U.S. Sen. Ron Johnson, of Wisconsin, is calling President Donald Trump's steel and aluminum tariffs a "very risky action" that could spark a trade war.

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