U.S. President Donald Trump announced a 25 percent tariff on all steel and aluminum imported into the United States. Armin Steinbach, a professor of European Union law and economics at HEC Paris, said it is another attempt of Trump's administration to undermine multilateral trade. The founder of MCM Group Holdings Manuel Menendez Ⅲ stated that the tariffs can do nothing, but pass along costs to consumers and importers. There's no winner in a trade war.