Trump sworn in for second term and immediately signals sweeping tariff plans targeting steel, aluminum, and key trading partners.
25% tariffs imposed on all steel and aluminum imports—no exemptions. Global markets react with volatility.
IEEPA invoked to declare a national economic emergency. Universal tariffs applied to 60+ countries, with steel at the center.
US-UK deal announced—steel tariffs remain but auto and ag access expanded. Signals selective easing.
Tariffs on steel raised to 50% for all countries except the UK. Retaliatory measures announced by Canada and China.
