President Donald Trump imposed sweeping 25% tariffs on all steel and aluminum imported into the United States Wednesday, a policy aimed at leveling the playing field for US manufacturing but a move that threatens to drive up prices on a broad range of consumer and industrial goods for Americans.

Donald Trump's focus on tariffs has unsettled investor, consumer, and business confidence, raising fears of a U.S. recession and global economic slowdown.

After President Trump’s global tariffs on steel and aluminum took effect, the European Union and Canada announced billions of dollars in levies on American goods. The stock market recovered some recent losses as investors weighed positive news on inflation against continued uncertainty.