Overview

• Donald Trump plans to impose 25% tariffs on EU imports, including cars, citing alleged unfair trade practices by the European Union.
• Tariffs of 25% on goods from Canada and Mexico are set to take effect on April 2, following previous delays tied to negotiations over drug trafficking and migration issues.
• China faces additional tariffs as Trump doubles existing duties, with Beijing vowing countermeasures to protect its interests.
• EU leaders and officials have pledged decisive retaliation, warning of significant economic consequences and a potential transatlantic trade war.
• Financial markets reacted negatively to the announcements, with major indices and company stocks in affected industries experiencing sharp declines.