​President Donald Trump has imposed a 25% tariff on all steel and aluminum imports to the United States, effective immediately, aiming to bolster domestic manufacturing.

The European Union swiftly retaliated with countermeasures targeting $28 billion worth of U.S. goods, including iconic products such as bourbon whiskey, jeans, and Harley-Davidson motorcycles. ​

Canada, the largest supplier of steel and aluminum to the U.S., announced plans for retaliatory tariffs totaling $20.7 billion, reflecting concerns over potential economic impacts.

South Korean steelmakers, including POSCO and Hyundai Steel, are considering establishing production facilities in the U.S. to mitigate the effects of the tariffs. ​

The tariffs have raised concerns about increased costs for U.S. manufacturers reliant on imported metals, potentially leading to higher prices for consumer and industrial goods.

Economists warn that the benefits to domestic steel and aluminum industries may be offset by negative impacts on downstream manufacturers. ​

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