WASHINGTON, March 12 (Alliance News): The United States has imposed a 25% tariff on all steel and aluminum imports, sparking strong reactions from global trade partners.
The move, part of President Donald Trump’s economic policies, aims to boost domestic production but has led to immediate retaliatory measures.
The European Commission announced counter-tariffs on $28 billion worth of U.S. goods, while Canada, Britain, and Australia condemned the decision.
Canadian officials are considering reciprocal measures, and British Business Secretary Jonathan Reynolds warned that all options remain open.
The tariffs impact key suppliers, including Canada, Brazil, Mexico, and South Korea. Trump initially threatened to double tariffs on Canadian exports but backed off after Ontario Premier Doug Ford agreed to delay energy surcharges on U.S. states.
The White House defended the move as a victory for American workers, with U.S. steel producers welcoming the decision. However, Canada is exploring non-tariff measures, such as limiting oil exports, in response.
Trump’s tariff policies have rattled markets, with economists warning of potential economic slowdowns. Business confidence has declined, raising concerns about the broader impact on the U.S. economy.
