WASHINGTON—President Donald Trump has kicked off his second term with a bold tariff policy that is shaking up global trade.
After imposing a 10 percent additional tariff on Chinese goods to address the fentanyl crisis, the president took another step by imposing a 25 percent tariff on steel and aluminum imports.
While this move has raised concerns among America’s trading partners, including the European Union, it has been met with praise from domestic metal producers and labor groups. Meanwhile, some economists have raised concerns about the potential inflationary effects of the tariffs.
The tariffs are set to take effect on March 4….