Current Affairs - Economy - Discussion

U.S. President Donald Trump has announced a 25% tariff on all steel and aluminium imports, effective March 4, 2025, with no exemptions for key exporters like Canada, Brazil, Mexico, and South Korea. The decision aims to boost domestic production and counter foreign dumping but has sparked a global backlash. Countries such as Canada and the European Union have condemned the move and are preparing retaliatory measures. This tariff reinstates Trump's earlier protectionist trade policies and could lead to heightened trade tensions and economic uncertainty in global markets.