On one hand, President Trump's plans to impose 25% and 10% tariffs on imported steel and aluminum, respectively, have triggered fears about a likely trade war, mainly between the United States and China. The sector seems to be riding on the strength of its members that remain well-positioned - given their focus on innovations; cost-containment efforts; numerous product launches and constant M&A activities. Moreover, apprehension related to inflation were reflected in the market in early February.