US president Donald Trump is still waging his tariff war with the rest of the world. A recent promise to levy a 25% tax on all steel and aluminium coming into the US may continue to have a dampening effect on the US stock market. Bitcoin (BTC) is still struggling to regain $100,000.
Tariffs to see widening use
Donald Trump’s trade war is spreading. Initially concentrated on Canada and Mexico, two countries bordering the US, and also on China, the President is now considering tariffs on Europe. He said that new tariffs could be imposed on Europe as early as Tuesday or Wednesday.
While the tariffs could just be a way for Trump to be able to negotiate deals with other countries from a position of strength, they will have negative effects for US businesses and citizens. Car prices in the US could rise as much as an extra $3,000 according to TD Economics, quoted in a BBC article on the subject.
If one looks back on tariffs imposed through history, it is generally the case tha
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