April 9: Trump's higher "reciprocal tariffs" begin just after midnight. Hours later, the president says he is issuing a 90-day pause on those duties, except for China. Trump raises tariffs on Chinese goods from 104% to 145%, the highest rate so far this year.

Steel producers like Cleveland Cliffs and Steel Dynamics both said this week that they raised prices after President Trump imposed a 50 percent tariff on imports.

Trump has sent letters to leaders of dozens of countries outlining the tariff levels set to begin on Aug. 1. In recent months, Trump has rolled back some of his steepest tariffs, meaning delays could be possible in the case of the Aug. 1 deadline. The Trump administration appears to have stood largely behind the deadline in recent days, however.

CLF jumped 12.45% Monday, then tacked on another 6% to 11.30 in Tuesday morning stock market action. Cleveland-Cliffs stock powered past its 200-day moving average, hitting a four-month high. CLF is up 48% this month, but still 29.5% below its 52-week high.

The tariffs placed on foreign goods imported into the United States are being paid for by the American people and businesses rather than governments and companies outside of the U.S. And things are only set to get worse if this