The application of a 25% customs duty imposed by U.S. President Trump on imports of steel and aluminum has come into effect.

The decision to implement the tariff decision by U.S. President Donald Trump regarding steel and aluminum imports has begun. At a time when concerns have arisen about the potential stagnation in the U.S. economy due to this decision. In addition to these tariffs, Trump, who applies separate tariffs to Canada, Mexico, and China, plans to introduce reciprocal taxes for trade partners such as the European Union (EU), Brazil, and South Korea as of April 2nd. In a meeting with prominent figures from the business sector yesterday, Trump argued that the higher the tariff, the more likely companies are to invest in the United States. Despite an 8% drop in the S&P 500 index in the past month, Trump used the following statements: “The biggest gain would be coming to our country and making businesses. This is a gain bigger than the tariffs themselves, but tariffs will also generate a lot of money for this country.” An additional 25% customs duty on products imported from Canada and Mexico began on March 4th. Trump then announced that they would not impose customs tariffs on products covered by the “United States-Mexico-Canada Agreement (USMCA)” to these countries until April 2nd. U.S. President Donald Trump had previously stated that additional tariffs on the country’s steel and aluminum imports would come into effect on March 12th.