Trump to Impose 25% Steel, Aluminum Tariffs in Major Trade Shift
U.S. President Donald Trump escalated his trade policy by announcing new 25% tariffs on all steel and aluminum imports. These responsibilities will apply to the current tax basis and will mutually tariffs comply with interest rates in other countries. The move adds uncertainty to the prior exemptions to Canada, Mexico and others. Trump criticized Mexico and Canada for insufficient border security efforts, threatening wider tariffs by March 1. Canadian officials expressed concerns about the trade impact, and the market responded to the market due to concerns about the updated trade tensions. A detailed announcement is expected to be issued soon.
