Former U.S. President Donald Trump has escalated his trade policies, imposing new tariffs on European goods and Apple products to bolster American industries. This move comes amidst a push for increased investment in the American steel industry and follows a pattern of protectionist measures during his presidency. Trump outlined these plans during a speech at a U.S. Steel plant, linking the decision to corporate investment deals and emphasizing support for domestic producers. 50% tariffs will be imposed on EU imports and Apple products unless companies move production to the U.S. The tariff aims to generate $5.2 trillion over a decade and is expected to impact global financial markets. Previous experiences with U.S. tariffs have led to volatility in asset markets, including cryptocurrencies, due to increased uncertainty. The potential for reduced U.S. GDP and wage growth alongside retaliatory measures from affected regions further complicates the situation.