On Feb 10, 2025, President Trump made significant changes to US steel and aluminum tariffs under Section 238 of the Trade Expansion Act of 1962, citing the need to protect the interest of domestic industry and safeguard national interest. To achieve this, the Trump administration announced that it has increased tariffs on aluminum imports from 10% to 25% and maintained 25% tariffs on steel. Further, the government dismantled existing exemptions and broadened the scope of tariffs. This signals a shift toward a more protectionist trade policy and ignites a trade war. Key Highlights: Trump made significant changes to US steel and aluminum tariffs under Section 238 of the Trade Expansion Act of 1962 US iron and steel imports from the

The potential imposition of significant U.S. tariffs starting April 2, 2025, indicates economic uncertainty, leading to a substantial rise in the price of goods for consumers and businesses. This significantly impacts domestic manufacturers and international companies facing disrupted supply chains and increased import costs.  To cushion the domestic market against the tariff war, the US Federal Reserve has maintained higher interest rates. However, this dampens economic activity and raises potential fears of a global slowdown, fracturing international commerce and fueling trade wars across regions. This raises concerns for businesses, investors, and policymakers worldwide. How Trump’s Tariffs Are Sparking Chances of US Recession The fear of the US recession is continuously growing, and several factors are responsible for this, which are