Trump tariffs impact global trade, shaking industries and stock markets. Domestic steel and aluminum producers benefit, while automakers and consumers face higher costs. Stock market volatility is rising,

Canadian Prime Minister Justin Trudeau, answering U.S. tariffs on Canadian goods with levies of their own, said they will “not back down from a fight.”The trade war promised by President Donald Trump stepped up a gear overnight,

EU foreign policy chief Kaja Kallas told Bloomberg that China is the country that stands to benefit the most from a trade war between the U.S. and EU. Her comments come as the EU imposed 50% tariffs on American whiskey in retaliation for U.S. tariffs on steel and aluminum imports.