Trump tariff saga CONTINUES…

President Donald Trump has reignited global trade tensions by signing an executive order that doubles U.S. tariffs on imported steel and aluminum—from 25% to 50%—effective June 4. Framed as a measure to bolster domestic industry and curb circumvention of trade laws, the move primarily targets alleged transshipments of Chinese steel through intermediary countries. While the United Kingdom escapes the hike due to a newly inked trade deal, most nations now face steeper costs. The policy shift is poised to reverberate through key industries, including automotive, construction, and electronics, with downstream implications for pricing and employment.

As industries brace for the economic fallout and economists raise red flags about potential inflationary pressures and job losses, the latest tariff hike underscores the enduring volatility in U.S. trade policy. Against the backdrop of an already fragile global economy—recently downgraded by the OECD—this development serves as yet another reminder of the uncertain terrain businesses must navigate. Whether this strategy achieves its protectionist goals or inflicts more harm than good remains to be seen.