In a bold move, President Trump has announced the doubling of tariffs on imported steel and aluminum to 50%, a decision that has sent ripples through the markets and drawn strong reactions from global leaders, particularly from the EU, which expressed deep regret over the announcement. The increase, being hailed as a ‘blockbuster’ deal aimed at rejuvenating American industry, has raised concerns about potential job cuts in Canada and price surges for consumers in the US. Stocks of major automotive companies like Ford and GM are slipping, indicating investor apprehension as these tariffs could further complicate trade relations and impact pricing across various sectors. Experts warn that these tariffs may intensify the ongoing trade war and could lead to increased costs for common goods, while manufacturers like Alcoa face heightened expenses. The global financial landscape is adjusting as markets react to this significant shift in US trade policy.