EU, Canada Announce Retaliatory Tariffs on US Imports

In response to President Trump's implementation of a 25% tariff on all steel and aluminum imports, both the European Union and Canada have announced significant retaliatory measures. The EU plans to impose counter-tariffs on approximately $28 billion worth of U.S. goods starting in April, targeting a range of products including steel, aluminum, and machinery. Canada will introduce additional tariffs on $20.7 billion worth of U.S. imports, which will take effect immediately and encompass various goods such as computers and sports equipment. The situation marks a significant escalation in trade tensions, reminiscent of past disputes during Trump's first term. Experts warn that these protectionist measures could disrupt global supply chains and harm economic growth, potentially leading to increased market volatility. As both sides brace for further conflict, the future of international trade relations remains uncertain.