Trump’s Tariffs on Steel and Aluminum Take Effect

Many other governments — like Japan, Australia, Mexico, Brazil and Britain — chose not to react, at least for now, for fear of worsening relations and the impact on their own economies. Those countries are also girding for the next round of Mr. Trump’s tariffs on April 2, when the president has said he will impose tariffs on foreign cars and countries that he says discriminate against the United States.

Mr. Trump’s recent trade moves have rocked stock markets and exacerbated concerns about the economy. Stock markets shifted between gains and losses on Wednesday as investors weighed concerns about tariffs against better-than-expected inflation data for February. Analysts have warned that Mr. Trump’s sweeping plan for tariffs could push inflation higher in the future and slow the economy.


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Originally posted on: https://www.nytimes.com/2025/03/12/us/politics/trump-tariffs-steel-aluminum.html