Trump's Steel Tariffs Spark Global Trade Tensions: Allies Respond with Retaliation

Following the US election 2024, President Trump's imposition of 25% tariffs on steel and aluminum imports has triggered a wave of global trade disputes. Canada, the EU, and China have announced or implemented retaliatory measures. Canada will impose tariffs on approximately $20.7 billion USD worth of US goods, effective this Thursday. These include reciprocal 25% tariffs on steel and increased taxes on tools, computers, sports equipment, and cast iron products. The EU plans to implement tariffs on $28 billion USD worth of US goods starting April 1, targeting steel, aluminum, textiles, appliances, and agricultural products. China has already responded to earlier US tariff increases with reciprocal tariffs on US agricultural imports. Some companies are adapting by shifting production or seeking new markets. Australia is urging citizens to buy local products instead of retaliating with tariffs. The UK has not yet announced tariffs but is considering all options. Mexico aims to negotiate with the US to end the tariffs. Trump defends the tariffs as necessary to protect US industries and national security.