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Trump Implements Global Steel and Aluminum Tariffs, Prompting Global Backlash

The 25% tariffs have drawn sharp criticism from allies and trading partners, with retaliatory measures announced by the EU and concerns raised in Asia-Pacific nations.

  • President Donald Trump has enacted a 25% tariff on all steel and aluminum imports, impacting major trading partners including Canada, South Korea, Japan, and Australia.
  • The European Union has announced countermeasures, imposing tariffs on $28 billion worth of U.S. goods starting next month, calling the move 'unjustified.'
  • Australia, a close U.S. ally, expressed disappointment over the tariffs, with Prime Minister Albanese labeling them 'against the spirit of friendship' between the two nations.
  • Markets have reacted negatively to the tariffs, with fears of a recession growing as investors anticipate rising costs and economic uncertainty.
  • The tariffs are part of Trump's broader 'America First' trade policy, aiming to bolster domestic production but raising concerns about strained alliances and global trade stability.
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