U.S. President Donald Trump announced new 25% tariffs on all steel and aluminum imports, escalating his trade policy. These duties will apply on top of existing tariffs, with reciprocal tariffs set to match other countries’ rates. The move raises uncertainty for prior exemptions with Canada, Mexico, and others. Trump criticized insufficient border security efforts from Mexico and Canada, threatening broader tariffs by March 1. Canadian officials voiced concerns over trade impacts, while markets reacted with caution amid fears of renewed trade tensions. A detailed announcement is expected soon.
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