Overview

• 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.