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Trump's Steel and Aluminum Tariffs Trigger Global Trade Tensions

The US imposes 25% tariffs on steel and aluminum imports, prompting swift retaliation from the EU and criticism from key allies.

A trader works on the floor of the New York Stock Exchange, Tuesday, March 11, 2025. (AP Photo/Richard Drew)
President of the European Commission Ursula von der Leyen speaks during a debate on urgent decisive steps and unwavering support for Ukraine, as part of a plenary session at the European Parliament, in Strasbourg, eastern France, on March 11, 2025.
Steel bars produced at the plant of steelmaker Voestalpine in Donawitz, May 6, 2013. Picture taken May 6, 2013. REUTERS/Leonhard Foeger/File Photo
U.S. President Donald Trump delivers remarks during a Business Roundtable event in Washington, D.C., U.S., March 11, 2025. REUTERS/Kevin Lamarque

Overview

  • The US has reinstated 25% tariffs on all steel and aluminum imports, extending duties to downstream products such as nuts, bolts, and soda cans.
  • The European Union announced €26 billion in countermeasures targeting US goods, including metals, textiles, agricultural products, and home appliances, effective April 1.
  • UK Business Secretary Jonathan Reynolds expressed disappointment, stating that all options are on the table to protect British industries, while Canada and Australia also criticized the move.
  • US allies and trade groups warned that the tariffs could disrupt supply chains, increase costs for consumers, and risk escalating into a broader trade war.
  • President Trump defended the tariffs as a strategy to bolster US industries and address what he described as unfair trade practices by other nations.