One major theme I'm watching is the implementation of the newly announced steel and aluminum tariffs, and more importantly what retaliatory measures we may see from U.S. trade partners.
President Donald Trump has gradually initiated trade tariffs on a variety of imported goods, the latest of which is a tariff on steel and aluminum imports. Let's not forget that he's already instituted tariffs on imported solar panels, washing machines and Canadian lumber.
In general, trade tariffs are not positive for economic growth, and a potential ensuing trade war ultimately produces no winners. Tariffs tend to raise prices for consumers, raise costs for businesses using the imported materials in manufacturing and marginally detract from economic growth.