In a dramatic twist in the trade war saga, the United States has rolled out a sweeping 25% tariff on steel and aluminum imports, hitting with no exceptions or exemptions. This bold move is the latest chapter in former U.S. President Donald Trump's volatile trade policies, and it's stirring up a frenzy in global markets! 🔥
Market watchers have already noted that the U.S. stock market has experienced a staggering decline, shedding nearly $5 trillion in value over the past three weeks as uncertainty mounts. Investors and traders alike are comparing the unfolding scenario to a high-stakes poker game where every move counts.
The ripple effects extend well beyond American borders. The European Commission acted swiftly, announcing counter tariffs on 26 billion euros worth of U.S. goods, set to kick in next month. Meanwhile, close U.S. allies like Canada and the UK have voiced their concerns—with Canada even mulling reciprocal actions, and the UK keeping all options open to protect national interests.
This turbulent landscape highlights how protectionist measures can upend markets and unsettle global economic confidence. As nations respond with counter actions, the world remains on tenterhooks, watching each strategic move in this unfolding trade drama. Stay tuned as this story continues to evolve and shape international trade dynamics!
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Trade war escalates as Trump's steel and aluminum tariffs take effect
cgtn.com
