US President Donald Trump has vowed to impose further tariffs following retaliatory measures from the European Union (EU) and Canada in response to his latest steel and aluminium import taxes. Trump reaffirmed his commitment to “reciprocal” tariffs, warning that the US would match any levies imposed by other nations, escalating a trade war.
The trade war intensified as the US implemented a 25% tariff on steel and aluminium, prompting Canada and the EU to announce countermeasures worth billions of dollars on American goods, including bourbon, motorbikes, and computers. While key US suppliers like the UK and Australia refrained from immediate retaliation, leaders voiced concerns over economic disruption.
Trump defended the tariffs as a strategy to boost domestic production, but critics warned of rising consumer prices and economic instability. Meanwhile, major food companies have urged exemptions for essential imports unavailable in the US. Global markets reacted cautiously, with mixed performance on Wall Street.
