Live: Trump says reciprocal tariffs are coming Thursday, days after new duties on aluminum, steel
Published On Feb 13, 2025, 9:00 AM
President Trump is altering U.S. trade policy by implementing tariffs, including a 25% tariff on steel and aluminum imports from all countries starting March 12, as well as potential reciprocal tariffs on various trading partners, including Canada, Mexico, and possibly China. This escalates trade tensions globally, with implications for inflation and interest rates. Trump's administration faces skepticism from many, including business leaders who are worried about cost implications and market dynamics.
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The ongoing implementaion of tariffs, especially on steel and aluminum, is likely to inflate production costs for many U.S. industries that rely on these materials, which could negatively impact their earnings. Tariffs may also lead to retaliatory tariffs from affected countries, further straining trade relationships and affecting global trade dynamics.
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