Silver Rises Over 120% YTD 
In a significant shift in U.S. trade policy, President Trump has taken immediate action by signing proclamations that eliminate all existing exclusions on steel and aluminum tariffs while simultaneously raising these duties to 25%.
This move reverses what a U.S. official described as an “out of control” exclusion process under the Biden administration, which had granted hundreds of thousands of specific product exemptions. The President is now preparing to unveil what he calls a “very sophisticated plan” for reciprocal tariffs, targeting a broader range of sectors including automobiles, semiconductor chips, and pharmaceuticals.
Trump has remained steadfast in his position, dismissing concerns about potential international retaliation and arguing that the U.S. has long faced unfair trade practices from other nations. The announcements, expected within the next two days, signal a potentially significant escalation in global trade tensions and a return to Trump’s aggressive trade policy stance from his first term.
