Trump prepares major tariff announcement that could shake global markets

President Donald Trump has announced a 25% tariff on all steel and aluminum imports to the United States, affecting imports from Canada and Mexico. He confirmed this action during a flight on Air Force One, stating that aluminum will also incur similar tariffs. Trump plans to introduce "reciprocal tariffs" on other countries that impose tariffs on American goods, highlighting an existing trade imbalance. This policy shift marks an earlier application of tariffs in his presidency. Financial markets responded negatively, with declining stock prices and increased concerns about inflation. Details on implementation remain unclear, as Trump previously delayed tariffs on goods from Canada and Mexico. Additionally, he mentioned a possible postponement of tariffs on small packages from fast-fashion companies. Global trading partners, especially South Korea, express concern regarding the potential industry impacts.

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