President Trump imposed a 25 percent tariff on metal imports, sparking new global trade spats as he attempts to shield the U.S. economy from foreign competition.

President Donald Trump officially increased tariffs on all steel and aluminum imports to 25% on Wednesday, promising that the taxes would help create U.S. factory jobs at a time when his seesawing tariff threats are jolting the stock market and raising fears of an economic slowdown.

A noncommittal response from President Trump on recession risks has stoked uncertainty over the economy. But some evidence argues against a recession.

President Trump has escalated tensions with Canada by threating to impose significant tariffs on imports like dairy and lumber. In retaliation, Canada has announced its own tariffs on U.S. goods. The situation is now further complicated by political developments in Canada where they’ve elected a new prime minister.