President Donald Trump’s decision to double steel tariffs to 50% and impose a 10% universal tariff has ignited global trade disputes. China accused the U.S. of violating trade agreements, while Canada’s Prime Minister Mark Carney urged provinces to boost internal trade to counter economic fallout. Economists warn that these tariffs could raise U.S. consumer prices, with Walmart predicting price hikes by late June.
The U.S. Court of International Trade ruled Trump’s broad tariffs unlawful, citing Congressional authority over trade, but the administration plans a Supreme Court appeal. The Financial Times notes strained U.S.-Canada relations, particularly between border cities like Windsor and Detroit. Key dates include June 5, when plaintiffs respond to a federal appeals court ruling reinstating most tariffs. These policies could reshape global trade dynamics, with significant economic implications.
