


Trump Reinstates 25% Tariffs on Steel and Aluminum, Risking Price Hikes on Consumer Goods
President Trump announces 25% tariffs on all imported steel and aluminum, increasing costs for various consumer products and sparking international trade tensions.
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Overview
President Trump has announced a 25% tariff on all imported steel and aluminum, effective March 12. This move, echoing previous tariffs from his first term, is projected to raise prices for consumers on items such as cars, appliances, and beverages. Industry experts anticipate that the tariffs could inflate costs across various sectors, including the automotive industry, which has expressed concerns over escalating production costs. Canadian PM Justin Trudeau criticized the tariffs as 'unjustified', vowing to retaliate. The EU is also preparing countermeasures, heightening fears of a global trade war that could disrupt economic stability.
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