Trump’s Steel and Aluminum Tariffs: Global Impacts and Reactions

The Euronews article states that Donald Trump has announced that he will impose a 25% tariff on steel and aluminum imports. It is emphasized that this situation will also affect major US trading partners such as Canada and Mexico. Trump also states that he will impose “reciprocal tariffs” in response to the tariffs imposed by other countries on US goods. Following these decisions, countries such as South Korea have taken action to assess the possible effects and markets have experienced declines. Analysts are expressing concerns that this situation could escalate the trade war and lead to inflationary effects. Ontario Premier Doug Ford has also called for a stable administration, stating that this situation puts the economy at risk. The article examines the uncertainty that Trump’s move has created in global markets and trade relations and the possible consequences.