Former President Donald Trump announced a 25% tariff on all steel and aluminum imports, effective February 10, 2025, as part of a broader trade protection strategy, while also planning to introduce "reciprocal tariffs" later in the week to match foreign tariffs on U.S. goods, causing the Australian stock market to lose $15 billion within an hour, with major exporters like Rio Tinto impacted, and leading to currency declines in Asia, where the Indian rupee is expected to hit an all-time low alongside other weakening regional currencies, ultimately creating global economic uncertainty and affecting trade relations and financial markets worldwide. Continue here.
