Trump's Tariffs: A New Chapter in Trade Tensions

Donald Trump plans to introduce new tariffs on steel and aluminium imports, escalating US trade policy tensions. The European Union and South Korea are considering responses. The move raises concerns over potential damage to the US economy due to increased raw material costs, and potential retaliatory actions.

Donald Trump is set to announce new 25% tariffs on all imports of steel and aluminium on Monday, further intensifying his administration's trade policy overhaul.

As fears of a multi-front trade war rise, the European Union has signaled possible retaliation, while Trump has indicated additional reciprocal tariffs on foreign imports.

The proposed tariffs have sparked concerns over potential economic impacts, prompting reactions from key partners like Canada and Australia. European and Asian steelmakers have already seen a decline in shares as a result of the impending announcement.