Yigit Taha OZTURK 
Trump announced that he would raise tariffs on steel and aluminum imports from Canada to 50%, but hours later, he backed down to the previously announced 25% rate. This decision came after Ontario abandoned its plans to impose a surcharge on electricity sent to the US.
Market Concerns and Trump’s Statements
Despite market downturns caused by the trade war, Trump dismissed the possibility of a recession, stating, “I don’t see it at all. I think this country is going to boom.”
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However, Trump warned business leaders to prepare for more tariffs, emphasizing that rates could go even higher. “The biggest win is not the tariff — that big win is a lot of money — but the biggest win is if they move into the country and produce,” Trump said.
US Economy and Global Impact
Economists warn that rising tariffs will increase consumer prices, put US exporters at risk, and slow overall economic growth.
Tensions with major trade partners such as Canada, China, and Mexico are affecting investor confidence. US stock markets have dropped by around 10% in recent weeks, while Trump‘s sudden policy shifts on tariffs have created uncertainty in financial markets.
Meanwhile, Canada’s planned retaliatory tariffs on US dairy products and electricity exports are further escalating trade tensions. Trump warned that if Canada does not back down, he might impose even higher tariffs.
Trump also mentioned potential tax incentives for companies relocating their operations to the US. In the coming days, trade policies and their global market impacts will continue to be closely monitored.
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