U.S. metals tariff hike backfires, sparks condemnation and countermeasures

From CGTN

The latest U.S. tariff hikes on steel and aluminum imports, from 25 percent to 50 percent, have drawn a backlash from U.S. industries and triggered countermeasures from major trading partners.

Citing experts, ABC News reported that the higher levies could drive up costs for cars, appliances and other consumer goods.

“Twenty-five percent tariffs were already high,” Kyle Handley, a professor of economics at the University of California, San Diego, told ABC News. “Fifty percent is incredibly high.”