Trump is back with fresh tariffs

Donald Trump is back on the tariff train, this time imposing a fresh 25% levy on all steel and aluminum imports.

Markets aren’t too thrilled. Steel and aluminum are critical for industries like construction, automobiles, and energy.

Oil drillers and wind developers, which rely on specialty grades not produced in the U.S., could be hit the hardest. If supply chains get disrupted, expect price spikes across sectors, from cars to canned goods.

The reasoning: Trump wants to boost domestic production and reduce reliance on foreign metals. U.S. steel and aluminum manufacturers stand to gain, while global exporters take a hit.

FYI, the US imports roughly 25% of all its steel.

Canada and Mexico, the top suppliers of these metals to the U.S., are still in the dark on whether they’ll be spared. Last time, they dodged tariffs by offering border security concessions.