Brief by Shorts91 Newsdesk / 04:42am on 12 Mar 2025,Wednesday International
U.S. President Donald Trump’s 25% tariff on steel and aluminum imports has taken effect, escalating global trade tensions. Canada, the European Union, and Australia condemned the move, with Canada vowing retaliation. Critics warn of rising costs in U.S. industries, while the American Iron and Steel Institute supports the tariffs. Australia’s PM called the decision "entirely unjustified," while stock markets reacted negatively, fearing economic slowdowns. Trump rejected exemptions for allies, insisting on a "no exceptions" policy. Despite concerns, the White House maintains the tariffs will boost domestic manufacturing. Canada’s last-minute concessions temporarily halted further U.S. tariff hikes.
