Trump imposes 25% tariffs on steel, aluminum imports

President Trump has announced a new 25% tariff on all steel and aluminum imports, marking a significant escalation in his trade policies and raising concerns about potential economic repercussions. This move, aimed at funding tax cuts amidst a growing deficit, has been criticized by experts who warn it could destabilize the global economy and lead to increased borrowing costs. In response, China has implemented tariffs on selected U.S. goods, including coal and crude oil, further escalating trade tensions. The swift retaliatory measures from China reflect the historical pattern of trade wars during Trump's presidency, which previously disrupted supply chains and impacted corporate earnings. As the situation develops, American businesses and consumers are likely to face increased prices and economic strain. The unfolding trade war could threaten not only U.S. economic stability but also global markets already grappling with inflation.