Trump's Tariffs on Steel and Aluminum Trigger Global Trade Conflict
The U.S. implements sweeping tariffs as Canada and the EU announce retaliatory measures, raising fears of economic fallout and a potential recession.
- President Trump has imposed 25% tariffs on steel and aluminum imports, affecting major trade partners like Canada, the EU, and Australia.
- Canada and the EU have announced reciprocal tariffs targeting billions of dollars in U.S. goods, including agricultural products, alcohol, and machinery.
- Economic experts warn that the tariffs could lead to higher consumer prices, disrupted supply chains, and job losses in industries reliant on imported metals.
- The stock market has reacted with volatility as investor confidence dips, with the Dow dropping nearly 500 points earlier this week.
- Critics argue that the tariffs, combined with other policy uncertainties, could push the U.S. economy toward a recession, disproportionately affecting vulnerable workers.
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