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Trump to slap 25% tariffs on steel and aluminum imports as businesses brace for higher supply costs: report

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President Donald Trump told reporters Sunday that he will formally announce plans for the U.S. to implement tariffs of 25% on imports of steel and aluminum, the first salvo in what could be the beginning of a trade war.
The article from MSN discusses former President Donald Trump's plan to impose a 25% tariff on steel and aluminum imports if he were to return to office, as reported by Bloomberg News. This policy, aimed at protecting U.S. industries, could lead to increased costs for businesses that rely on these materials, potentially affecting sectors like construction, automotive, and manufacturing. The proposed tariffs are part of Trump's broader strategy to prioritize American manufacturing and reduce reliance on foreign goods, which could reignite trade tensions with major trading partners like China and the European Union. Businesses are already bracing for the impact, with some expressing concerns over potential price hikes and supply chain disruptions.

Read the Full MSN Article at:
[ https://www.msn.com/en-au/politics/government/trump-to-slap-25-tariffs-on-steel-and-aluminum-imports-as-businesses-brace-for-higher-supply-costs-report/ar-AA1yI0fb ]