U.S. President Donald Trump’s decision to impose a 25% tariff on all steel and aluminum imports has sparked fears of a global trade war, with experts calling it a 'negative-sum game' that risks destabilizing international markets. 🔥 The move, announced earlier this week, targets major trading partners and could trigger retaliatory measures, escalating costs for businesses and consumers worldwide.
Experts Sound the Alarm 🚨
Armin Steinbach, a professor of EU law and economics at HEC Paris, slammed the tariffs as another attempt by the Trump administration to 'undermine multilateral trade systems.' 🛑 Meanwhile, Manuel Menendez III, founder of MCM Group Holdings, warned the policy would 'pass along costs to consumers and importers,' stressing that 'there are no winners in a trade war.' 💔
The decision comes amid rising economic uncertainty, with analysts predicting higher prices for everything from cars to construction materials. 🚗🏗️ Critics argue the tariffs contradict global cooperation principles, potentially isolating the U.S. economically—a risky move in our hyper-connected world.
