Tariff Details and Intentions
plans to impose 25% tariffs on all steel and aluminum imports, including from and , and to announce "reciprocal tariffs" on products from countries that have levied duties on goods.
Trump sees these tariffs as tools for negotiating concessions, addressing immigration issues, and generating revenue to help close the government's budget deficit.
Market and Global Reactions
Financial markets and consumer sentiment have reacted negatively to the tariff announcements, with stock prices dropping and Americans expecting inflation to rise.
The proposed tariffs have caused concern among global trading partners, prompting South Korea to assess the potential impact on its industries and respond accordingly.