US President Donald Trump’s tariffs on steel and aluminium imports have come into effect, raising duties to 25% and ending exemptions for all countries. This move is expected to heighten tensions with some of America’s largest trading partners. Countries such as the UK and Australia have unsuccessfully sought exemptions, while others like Canada and the European Union have vowed to retaliate. The American Iron and Steel Institute welcomed the tariffs, stating they will create jobs and boost domestic steel production. However, critics argue that the tariffs will increase prices for US consumers and slow economic growth. Industries such as aerospace, car manufacturing, and construction are likely to face higher costs due to the tariffs. Some economists warn that while the tariffs may benefit the US steel and aluminium industries, they could harm the broader economy by making products more expensive for downstream users. The decision has also sparked fears of an economic recession, leading to a sell-off in US and global stock markets. — news from BBC.com
