EU and Canada Respond to New US Tariffs with Targeted Countermeasures

The US imposes 25% tariffs on steel and aluminum imports, prompting swift retaliatory actions from the EU and Canada, escalating trade tensions.

• The United States has implemented a 25% tariff on steel and aluminum imports, affecting $26 billion in EU exports and significant Canadian trade volumes.
• The EU has reinstated and expanded tariffs on US products such as whiskey, motorcycles, and agricultural goods, targeting $22.5 billion in imports by mid-April.
• Canada has announced tariffs on US goods worth €19 billion, including steel, aluminum, and additional items like computers and sports equipment.
• The EU's measures strategically aim at products important to Trump's political base, while Canada has also increased electricity prices for US buyers as a retaliatory step.
• Both the EU and Canada emphasize the economic harm of tariffs while keeping the door open for negotiations to prevent further escalation.

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