The Trump administration significantly expanded the scope of steel and aluminum tariffs. Standard & Poor's predicts that its policies will bring in "substantial" fiscal revenue.

Wisdom Financial APP has learned that the Trump administration has significantly expanded the scope of the 50% tariffs imposed on steel and aluminum products. The new tariffs officially took effect this Monday, covering over 400 product categories, including firefighting equipment, machinery, construction materials, and specialty chemicals containing or made from steel and aluminum. This move is seen as a major adjustment to US trade policy, and is expected to have far-reaching effects on inflation and supply chains.