The U.S. has imposed significant tariffs on all steel and aluminum imports, marking a resurgence in trade tensions under Trump's administration. This 25 percent duty came into effect with no exemptions, inciting immediate retaliation, particularly from the European Union which announced countermeasures on $28 billion worth of U.S. goods. Other countries, including Canada and Mexico, are also considering reciprocal tariffs, heightening fears of economic repercussions and inflated consumer prices, while Trump maintains that these tariffs will bolster the U.S. metals sector and job creation.
Trump's tariffs on metals imports took effect on Wednesday, levying a 25 percent duty with no exceptions or exemptions, escalating the global trade war.
The European Commission responded almost immediately, announcing counter duties on 26 billion euros worth of US goods, matching the scope of the US tariffs.
Ursula von der Leyen stated the EU's belief that Trump's push to overturn global trade norms is damaging to Western unity in the face of challenges.
Canada, the biggest foreign supplier of steel and aluminum to the US, is considering reciprocal actions, highlighting the immediate global impact of the tariffs.
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