The U.S. is set to impose a 25% tariff on all steel and aluminum imports, with Canadian metals facing an even higher 50% tax. Key suppliers like Canada, the UAE, and China will be affected, impacting industries such as automotive, construction, and manufacturing. Experts predict car prices could rise by $1,000 to $1,500, while homebuilding costs may also increase. Similar tariffs imposed in 2018 raised metal prices, caused job losses in manufacturing, and resulted in a high taxpayer cost per job saved. In response, Canada imposed a 25% tariff on $20.7 billion worth of U.S. goods, and China increased duties on American agricultural products. Continue here.
