Escalation of Trade War: Trump Increases Tariffs on Steel and Aluminum.

U.S. President Donald Trump has decided to intensify pressure on steel and aluminum producers by announcing plans to double tariffs on these materials. According to him, tariffs on imported steel will rise from 25% to 50%, which he believes will provide protection for the American steel industry.

Immediately after the announcement of this news, shares of steel manufacturer Cleveland-Cliffs Inc surged by 26%, indicating a positive sentiment among investors regarding the company's profit increase.

However, the reaction to these plans on the international stage has been quite sharp. Some countries condemned Trump's actions, and the Canadian Chamber of Commerce even called them 'antithetical to North American economic security.'

Trump asserts that his strategy in the trade war will help preserve jobs for American steelworkers. Now, the increased tariffs will also apply to aluminum products, tightening the conditions for foreign trade.

The steps that U.S. President Donald Trump plans to take in the steel and aluminum trade provoke various reactions in different countries, but he is confident that this will help support American industry and mitigate long-standing issues in this sector.