U.S. Tariff Increases and Trade Implications

The U.S. President has implemented an executive order raising tariffs on all steel and aluminum imports to 25%. This action marks a significant increase from previous rates and highlights the administration's protectionist 'America First' agenda. While intended to revive the domestic steel industry, this move could adversely affect American manufacturers reliant on these materials, leading to higher consumer prices. Global trade relations may also suffer, as allies and competitors alike respond negatively to the tariffs.