President Trump has announced a plan to significantly increase tariffs on steel imports, doubling the existing rate from 25% to 50%. This move is projected to inject $14 billion into the economy and create 70,000 jobs. However, the potential economic impact of these increased tariffs remains uncertain, as it could heighten volatility in both traditional and digital markets like cryptocurrency. This announcement follows Trump’s prior tariff policies which have been met with mixed reactions from international partners. While market observers anticipate a possible negative impact on equities and alternative assets, particularly cryptocurrencies, economists are cautiously assessing the long-term ramifications of these tariffs. Some analysts question the strategy’s sustainability given current global economic uncertainties.