Tariffs on all steel and aluminum imports into the United States went into effect on Wednesday, escalating the global trade war, Al Jazeera reports.
The move has drawn immediate condemnation from trading partners and prompted swift announcements of retaliatory measures.
President Trump’s tariffs, imposing a 25 percent duty on steel imports “with no exceptions or exemptions,” took effect as previously granted exemptions, duty-free quotas, and product exclusions expired. Simultaneously, the duty on aluminum imports was raised from 10 percent.
Separate tariffs have been imposed on Canada, Mexico, and China, with plans to levy “reciprocal” rates on imports from the European Union, Brazil, and South Korea, starting April 2.
President Trump has asserted that these tariffs will bolster the US metals sector and create jobs. However, his unpredictable tariff policies are unsettling markets, raising concerns about a potential economic slowdown, and threatening to increase prices for consumers.
The European Commission responded almost immediately, announcing counter duties on 26 billion euros ($28 billion) worth of US goods, set to take effect next month. The head of the EU executive also reiterated the bloc’s conviction that President Trump’s efforts to dismantle global trade norms are undermining Western unity in the face of growing global challenges.
In Australia, Prime Minister Anthony Albanese condemned the move as “entirely unjustified… and against the spirit of our two nations’ enduring friendship” but ruled out the implementation of retaliatory tariffs.
