Trump's Tariff Tactics: A Double-Edged Sword in the Global Economy

President Donald Trump announced the imposition of a new 25% tariff on steel and aluminum imports, stirring market volatility. While some speculate this move as a negotiation tactic, it could strain U.S. relationships with major suppliers like Canada and Mexico, and potentially spark global economic repercussions.

In a move stirring considerable debate, U.S. President Donald Trump declared on Sunday his intention to impose a 25% tariff on all steel and aluminum imports. As markets braced for impact, industry insiders speculated about the broader economic implications.

Vasu Menon, Managing Director of OCBC in Singapore, expressed uncertainty regarding Trump's latest strategy, viewing it as potentially harmful due to America's reliance on steel and aluminum imports from key allies.

The announcement triggered mixed reactions across global markets, with some investors poised for increased volatility while others anticipated inflationary pressures due to heightened trade tensions.

(With inputs from agencies.)