Global trade war is escalated as American steel tariffs, aluminum imports of launch | News Donald Trump
American duties on steel and aluminum are rapidly retaliating from the main trade partners.
Tariffs to all the imports of steel and aluminum into the United States entered into force, enhancing the global trade war caused by President Donald Trump.
Trump’s Tariffs on metal imports came into force on Wednesday, charging a duty of 25 percent “without exception or exemption”. Trade partners quickly expressed complaints and some quickly announced retaliation.
The tariffs were played as exemptions, without customs and exclusion of products. In addition, aluminum duty was collected with 10 percent.
Separate tariffs are charged in Canada, Mexico and China, and plans to tax imports from the European Union, Brazil and South Korea, charging the “reciprocal” rate starting from April 2.
Trump claimed that taxes would help the US metal sector and create jobs. However, his tariff threats to watch are markets for running, raising the fear of economic slowdown and threatening to increase the prices for consumers.
The European Commission reacted almost immediately as the tariffs came to play, announcing the counter of duty to 26 billion euros ($ 28 billion) in US goods worthy of next month.
“This coincides with the economic scope of the US tariff,” said Ursula von der Leyen, president of the European Commission, adding that the regime will be imposed in two steps and to spend its entirety until April 13.
The EU Executive Government also reiterated the confirmation of the block that Trump’s pressure to undo global trade norms damages Western unity is faced with increasing challenges.
“We’ll always stay open to negotiations,” she said. “We firmly believe that in a world full of geopolitical and economic insecurity, it is not in our common interest that our economy burdens the tariffs.”
CanadaThe largest foreign supplier of steel and aluminum in the United States, he said he was considering reciprocal actions.
British Business and Trade Minister Jonathan Reynolds said “all the possibilities were on the table” to respond in national interest.
In Australia, Prime Minister Anthony Albanese declared the move “completely unjustified … and against the spirit of the lasting friendship of our two peoples,” but excluded Tit-Za-Tat’s duties.
In the meantime, two leading South Korean manufacturers have announced that they are considering investing in new plants in the United States, supporting Trump’s claim that his tariffs encourage foreign investments in the country.
