US President Donald Trump has threatened to escalate the global trade war with additional tariffs on European Union (EU) goods, says a media report.
Soon after taking office, Trump imposed a 25 percent tariff on imports from Mexico and Canada, though carmakers and some other goods were exempted.
On Wednesday, the EU Commission announced that Trump’s 25 percent tariffs on all steel and aluminum imports had taken effect.
In response, the European Commission said it would end the suspension of tariffs on US products by April 1 and unveil new countermeasures by mid-next month.
Just hours after the US tariffs were implemented, Trump warned he would impose additional penalties if the EU proceeded with its plan to introduce counter-tariffs on US goods, Reuters reported.
“Whatever they charge us, we’re charging them,” Trump told reporters at the White House.
Canada has already imposed tariffs worth a similar amount on US goods. “We will not stand idly by while our iconic steel and aluminum industries are being unfairly targeted,” said Canada’s Finance Minister Dominic LeBlanc.
US Commerce Secretary Howard Lutnick also indicated that Trump planned to introduce trade protections on copper.
The EU’s countermeasures could target up to $28 billion worth of US goods, including products like dental floss, diamonds, bathrobes, and bourbon — though these represent only a small portion of the larger EU-US commercial relationship.
sa/mud
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