Trump Imposes More Tariffs—This Time on Steel and Aluminum | Global News Avenue

President Donald Trump signed an executive order on Monday to impose a 25% tariff on steel and aluminum imports, which could affect a large number of trading partners.

this tariff It is reportedly expected to take effect on March 4 and apply for approximately 25 million tons of steel imported annually from the country.

The move comes a week after the White House delayed widespread tariffs. Canada and Mexico. These countries, as well as Brazil and South Korea Send the most steel to the United States

This is the latest development of the Trump administration’s campaign to change trade policy changes. Last Tuesday, the White House 10% tariff Imported from China.

What’s next for the tariff legend

Trump also said that “reciprocal tariffs” will be issued later this week for any country taxed by the United States. This responds to comments from the U.S. Trade Representative nominee At the confirmation hearing Last weekend.

Economists and analysts also hope that tariffs on cars will be imposed soon, according to the president’s past comments. These tariffs can be directed to a country or a wide range of steel taxes, such as steel tariffs.

The White House wants to increase more revenue for the country and eliminate the trade deficit, which it says will generate more money and business activities in the United States Spend more money from the family and Possible harm to trade-related workwhich will lead the Fed to maintain its influential federal funding rate Higher time longer.

Deutsche Bank calculated on Monday that if Canada’s delayed Canadian and Mexico tariffs take effect and Trump issued reciprocal tariffs, those tariffs, these tariffs, and tariffs from China and steel could raise inflation to more than 3.5%. The measure is currently 2.8%.