Trump’s steel tariffs shake global trade—What it means for you
President Donald Trump’s new tariffs on steel and aluminium imports, now set at 25%, mark a significant escalation in efforts to reorder global trade in favour of the United States.
The updated tariffs extend beyond raw metals to include hundreds of downstream products such as nuts, bolts, and even soda cans, reinforcing protections for American producers. This move has prompted swift retaliation from Europe, with plans for counter-tariffs on U. S. goods, while allies like Canada, Britain, and Australia weigh their options amid growing trade tensions. In response, China and Japan have signalled their readiness to safeguard their national interests, reflecting the deep impact of these measures on global economic relations. Economists warn that the escalating tariffs could dampen investor, consumer, and business confidence, potentially slowing economic growth both domestically and globally.
