Trump’s Reciprocal & Steel Tariffs: Markets React Negatively

U.S. President Donald Trump said on Sunday he will introduce new 25% tariffs on all steel and aluminium imports into the U.S., on top of existing metals duties, in another major escalation of his trade policy overhaul. Trump, speaking to reporters on Air Force One on his way to the NFL Super Bowl in New Orleans, said he will announce the new metals tariffs on Monday. He also said he will announce reciprocal tariffs on Tuesday or Wednesday, to take effect almost immediately, applying them to all countries and matching the tariff rates levied by each country. Here’s also a look at what the tariffs mean for India.