President Trump announced today that the United States will be imposing 25% tariffs on imported aluminum and steel, in response to China's retaliatory tariffs. These tariffs come after weeks of escalating tensions between the two economic superpowers.

The move is expected to have major implications for the global economy, as it will affect not only the price of these materials but also impact a wide range of industries that rely on them. China has already imposed tariffs on US imports, including shipping fees and charges that have caused delays for companies like UPS, USPS, FedEx, and DHL.

Trump's decision to implement these tariffs comes despite his previous claims that he was in no rush to speak with Chinese President Xi Jinping about the ongoing trade dispute. The tariffs are seen as a measure to protect American jobs and national security interests, but they have also raised concerns about a potential trade war with China.

As tensions continue to escalate, experts warn of the potential negative consequences for both countries and the global economy. Stay tuned for updates on this developing story.