Canada and EU Announce Retaliatory Tariffs in Response to Trump’s Trade Measures

New tariffs target U.S. goods, including steel, aluminum, and consumer products, escalating tensions with major trade allies.

Canada imposes 25% tariffs on $20.7 billion worth of U.S. goods, including steel, aluminum, computers, and sports equipment.
The European Union plans retaliatory tariffs on $28 billion worth of U.S. exports, targeting goods like bourbon, motorcycles, and agricultural products.
EU tariffs are strategically aimed at products from Republican-led U.S. states, intensifying political pressure on the Trump administration.
President Trump defends his trade policies, asserting they will reduce trade deficits and incentivize domestic manufacturing.
Economic experts and business groups warn that the escalating trade conflict risks higher consumer prices, job losses, and market instability.