President Trump has introduced new tariffs on aluminum and steel, igniting fears of a global trade war. The European Union plans retaliatory tariffs worth $28 billion on U.S. products. While European leaders are hopeful for negotiations, Trump emphasizes the protective need for American manufacturing. Business leaders express concerns about the tariffs' impact on markets, with significant drops already observed. Despite stock market volatility, Trump insists the tariffs will financially benefit the U.S., indicating a potential for further increases in tariffs.
President Trump seems determined to stick with his protectionist policies despite the stock market turmoil that he's unleashed and regardless of the pushback from business leaders and global allies.
The tariffs are going to be throwing off a lot of money to this country. They may go up higher, Trump added, underscoring that he views tariffs as a way to revive America's manufacturing sector.
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