After the re-election of the President of the USA Donald Trump, he signed an order introducing a new 25% tariff on steel and aluminum imports to the USA, estimated at 50 billion dollars by 2024. These tariffs come into effect on March 12, 2018. During his first term in the White House, Trump imposed a 25% tariff on steel and a 10% tariff on aluminum to support the growth of American production, making foreign materials more expensive for American buyers. However, in the end, a multitude of major suppliers was exempted, including Canada, Mexico, and the European Union.
"These measures are being taken to protect our production and labor infrastructure," Trump noted in his statement regarding the new tariffs, which have caused unease and insecurity on the part of many countries, prompting a rise in trade and political tensions between the USA and its trading partners. Analysts warn that such actions could lead to a trade war and negatively impact the global economy.
