US steel, aluminum tariffs take effect, Europe responds

The 25% tariffs imposed by US President Donald Trump on steel and aluminum imports officially came into effect today, March 12, prompting a retaliatory response from the European Union (EU).

The White House confirmed the implementation of these tariffs late Tuesday, stating they would apply to Canada, Australia, the EU, and other nations.

However, Trump clarified that he no longer intends to raise tariffs on metals imported from Canada to 50%.

These tariffs are part of Trump's broader strategy to set up substantial barriers around the US economy, steps he considers necessary to rebalance the global trading system.

In response, the EU announced swift countermeasures, declaring plans to impose tariffs on US goods worth €26 billion (approximately $28.33 billion) starting April, to protect European companies, workers, and consumers from what it described as “unjustified trade restrictions”.

This latest escalation marks a significant development in the ongoing trade war, which has rattled global markets in recent days amid growing fears that such tariffs could push the world’s largest economies toward recession.