Impact of Trump's Tariffs on Global Trade

Donald Trump announced a plan to impose 25% tariffs on all steel and aluminum imports, which has garnered significant attention from economists and investors. The European Union responded swiftly, expressing strong dissatisfaction and promising 'firm and proportionate countermeasures' against these tariffs. German Chancellor Olaf Scholz emphasized the EU's resilience in dealing with potential economic repercussions, highlighting the bloc's united front despite individual country concerns. Meanwhile, the UK government is taking a different approach, aiming to avoid tariffs altogether in an effort to maintain trade relations and prevent an escalation into a trade war.