Overview
- President Trump has implemented 25% tariffs on all U.S. steel and aluminum imports, sparking retaliatory measures from Canada, the European Union, and other trading partners.
- Canada announced tariffs on U.S. goods worth $33 billion, while the EU is preparing counter-tariffs targeting $45 billion worth of American products, including bourbon and dental floss.
- Trump has threatened further tariffs on EU goods if countermeasures proceed, intensifying fears of a global trade war and economic instability.
- The tariffs have led to a consumer-driven 'Boycott USA' movement in countries like Canada, Denmark, and France, with significant impacts on industries such as travel and spirits.
- Markets responded with mixed signals: U.S. tech stocks rebounded, gold approached record highs, and crude oil prices stabilized, while concerns over inflation and recession loom.