President Donald Trump’s increased tariffs on all U.S. steel and aluminum imports took effect on Wednesday, stepping up a campaign to reorder global trade norms in favor of the US that drew swift retaliation from Europe. Trump’s action to bulk up protections for American steel and aluminum producers restores effective global tariffs of 25% on […]
Trump's increased tariffs on steel and aluminum imports prompted immediate retaliation from Canada and the EU, who announced counter-tariffs on billions of dollars worth of US goods. While allies like Britain and Australia criticized the move, they did not implement immediate retaliatory duties. The tariffs have rattled investor confidence and raised concerns about a potential economic slowdown.
