Washington (Brussels Morning Newspaper) – US President Donald Trump stated he would respond to the European Union’s retaliatory tariffs against his 25% import tariffs on steel and aluminum, as a global trade war escalates.
Trump did not specify how he would respond to the countermeasures but stated,
“Of course, I’m going to respond,”
When asked by reporters at the White House on Wednesday. He threatened to increase tariffs on Canadian steel and aluminum to 50% before reverting to a 25% rate after Ontario discontinued the electricity surcharge to the US earlier in the day.
How have the trading partners responded to Trump?
Earlier, Trump announced with the blanket 25% tariffs on steel and aluminum to other nations on Wednesday, provoking immediate countermeasures from the European Union and Canada.
The EU responded with import duties on €26 billion worth of U.S. goods
“matching the economic measure the US tariffs,”
Marking a significant retaliatory action to the recent Trump administration’s tariff escalation.
A new package of tariffs will be imposed by the European Commission from 2018 to 2020 during Trump’s first term against €8 billion worth of US goods on 1 April, followed by a new round of tariffs on €18 billion in mid-April.
In the statement, the European Commission stated:
“The Commission regrets the US decision to impose such tariffs, considering them unjustified, disruptive to transatlantic trade, and harmful to businesses and consumers, often resulting in higher prices.”
The Commission added that
“the EU remains ready to work with the US administration to find a negotiated solution,”
and the countermeasures
“can be reversed at any time should such a solution be found.”
Canada also responded with 25% new tariffs on US-made products worth €19 billion, sufficient at midnight EST (6 am CET) on Thursday. Levies will match tariffs imposed by the US “dollar for dollar”.
In total, the countermeasures will affect €8.05 billion of steel items, €1.9 billion of aluminum, and €9.1 billion on other products. Canada is the largest steel exporter to the US, followed by Brazil, Mexico and China in 2024.
How did other nations react?
Other nations did not take immediate countermeasures against Trump’s metal tariffs, but most voiced a willingness for dialogue. British Prime Minister Keir Starmer stated Britain will
“keep all options on the table”
And is
“negotiating an economic deal which covers and will include tariffs if we succeed.”
Australian Prime Minister Anthony Albanese said Trump’s tariffs are “entirely unjustified” and that Australia will continue discussions for an exemption. China did not respond directly to the new tariffs but stated the US
“owed a big thank you”
As Beijing had successfully controlled the fentanyl trade.
