359165612 © Rokas Tenys | Dreamstime.com
Tariffs are once again dominating the news cycle as a new round of them went into effect on March 12, this time specifically focused on steel and aluminum imported into the U.S. This comes one day after the Trump administration said it would impose a 50% tariff specifically on Canadian steel and aluminum in retaliation for one of Canada's provinces saying it would place a 25% tariff on electricity exported to the U.S.
And just last week, the previously paused tariffs on goods imported from Canada and Mexico were re-instated but then just as quickly put on pause again until April. Tariffs on Chinese goods were increased to 20%. Many countries have also implemented their own retaliatory tariffs on products coming from the U.S.
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