Trump's Tariffs on Steel and Aluminum Escalate Trade Tensions with EU and China
The U.S. president reaffirms a strict 25% tariff policy while retaliatory measures from trade partners intensify economic disputes.
- Donald Trump has declared he will not soften the 25% tariffs on steel and aluminum imports, which took effect last week, aiming to protect U.S. industries and generate federal revenue.
- The tariffs impact major U.S. trade partners, including Canada, the EU, China, Japan, and Australia, prompting significant international backlash.
- In response, the European Union announced retaliatory tariffs on U.S. goods like bourbon and motorcycles, with plans to target up to $28 billion in U.S. exports.
- China has also introduced countermeasures targeting U.S. agricultural products from states that supported Trump in past elections, escalating trade pressures.
- French Prime Minister François Bayrou criticized the EU's response as potentially miscalculated but expressed hope for negotiation within the next two weeks to prevent further economic escalation.