In a bold move that has sparked fears of a trade war, President Trump announced tariffs on steel and aluminum imports, sending shockwaves through global markets. The tariffs, set at 25% on steel and 10% on aluminum, are set to take effect in the coming weeks.

The decision has already had a major impact on the economy, with gold hitting a record high as investors sought safe havens amidst the uncertainty. The move has also caused concern among US allies and trading partners, with many expressing their disappointment and warning of potential retaliation.

Critics of the tariffs argue that they will lead to higher prices for consumers and hurt American businesses that rely on imported metals. However, Trump has defended the move as necessary to protect national security and bring back jobs to the steel and aluminum industries.

As the world braces for the consequences of Trump's latest trade policy, experts are warning of the potential for market turbulence and a destabilization of global trade relations. Only time will tell what the long-term impact of these tariffs will be on the economy and on the US's relationships with its allies.