Donald Trump has announced the imposition of a 25% tariff on all US imports of steel and aluminum.
These tariffs have been preceded by the same percentage applied to Canada, Mexico, and China, primarily harming these countries.
Trump's reasons for this tariff offensive include national defense and the protection of US industry and jobs.
Retaliation from the affected countries could end up increasing the prices of imported goods in the US and contribute to rising inflation.
Trade wars usually harm all countries involved, and this could negatively affect the US economy.
Conclusion: The impact of these tariffs and potential countermeasures could hurt economies on a global scale. Although Trump is using this as a tactic to potentially negotiate more favorable trade terms, ramifications could be severe.