US President Donald Trump issued executive orders on Monday to impose 25% tariffs on steel and aluminum imports. He canceled exemptions from his 2018 tariffs, subjecting all steel imports to a 25% tax and increasing aluminum tariffs from 10% to 25%. The changes, set to take effect on March 4, are part of his push to boost domestic manufacturing.

According to the American Iron and Steel Institute (AISI), key trade partners such as Canada, Brazil, Mexico, and South Korea will be impacted. The tariffs risk driving up costs for manufacturers and consumers, raising concerns about inflation.

Besides, Trump announced plans to adjust all import taxes to match tariffs levied by other countries and reiterated upcoming tariffs on automobiles, computer chips, and pharmaceutical drugs. The move is part of Trump’s aggressive effort to reshape global trade terms, further deteriorating economic uncertainty.