During his campaign, and ever since, President Trump has been threatening tariffs on steel and aluminium.
He has already been using individual tariffs against Canada, Mexico and China in an attempt to greatly reduce the flow of both drugs and illegal immigrants into the USA.
Today, however, he introduced a global tariff of 25% on steel and aluminium, as he seeks to increase production of both these items within the USA.
Mexico, Canada and China were already aiming to issue their own responses in what is likely to become a full-scale tariff war already, particularly as he increased the tariff to 50% on Canada.
As of today, others are also now lining-up to make their own responses, following the introduction of the global tariff, including EU countries and many others, but not the UK. The UK are delaying their response as they continue to hope, somewhat desperately, for the promised magic trade deal from America, which may or may not come, according to the whim of the current USA administration. Only the government is holding their breath for that, principally because, without it, the UK will be in a whole lot more trouble than they are in already, signified by the anxiously planned raid on the benefits system during the next budget statement later this month.
In the meantime, the Americans and Ukrainians made some progress in seeking a peaceful end to the Russia-Ukraine war by agreeing to an immediate 30-day ceasefire, subject to acceptance by the Russians.
Everyone really is holding their breath on this decision by them.