Who will take the biggest economic hit from Trump’s 25% tariffs?
President Donald Trump has just pushed the economic ‘bomb’ button on steel and aluminum suppliers!
With 25% tariffs on $50 billion worth of imports, major countries are now in the red zone, needing to brace for the inevitable fallout.
Who will fall, and who will survive?
Canada is at the top of the list, accounting for 22% of the 25 million tons of steel imported into the US.
Behind it, Brazil (15%) and Mexico (12%) are also bracing for a tariff shock that could hurt their economies.
In the aluminum sector, Canada already supplies nearly 40% of US imports, while the United Arab Emirates, China, South Korea, and Bahrain are also in the top five.
With these tariffs, major supplier countries will face higher export costs, which could trigger retaliation and disrupt supply chains.
If in 2018 Canada and Mexico got the ‘golden ticket’ of tariff exemptions, Trump is now adamant: No mercy!
Will this trigger a global trade war? Or will these countries bow to Washington’s pressure?
