London – The European Union and Canada have announced tariffs for retaliation on Wednesday after the duties of Trump administration came into force, expanding the trade war with several leading trading partners in America.
In the midnight, the United States began to impose 25% of the tariffs for the whole import of steel and aluminum from all trading partners, without exceptions and exceptions, the White House said.
Global trade tensions broke US shares. On average Dow Jones Industrial fell on 330 points, or 0.8%while S& P 500 decreased by 0.25%. Tech-Heavy Nasdaq noted 0.25%.
Officials representing the European Union have said that the member states would place countermeasures for about 26 billion euros, or about $ 28 billion. Ursula von der Leyen, president of the European Commission, said in a statement that the EU “should act to protect consumers and business.”
The worker moves the steel product to North York Iron, the supplier became in Toronto, Ontario, Canada, February 11, 2025.
Cole Burston/AFP via Getty Images
“Tariffs are taxes. They are bad for business, and even worse for consumers,” said von der Leyen. “These tariffs violate the supply chains. They bring uncertainty for the economy. Work is put on the map. Prices will rise. In Europe and the US.”
Canada, and then announces tariffs for approximately $ 29.8 billion, or about $ 20.7 billion, in US goods, which are expected to be imported, government officials said. The United States is imported more and aluminum from Canada than any other country.
“Our only attention is to withstand the interests of Canada, Canadian jobs and Canadian workers,” Dominic Leblan, Mi
The Canadian tariffs will start at 12:01 on Thursday, Lebllan said. It was designed so that they are proportional to the American tariff, he said.
European measures have also been designed to comply with the US tariffs, which, according to the European Union, will cost about $ 28 billion. The opposition is expected to begin on April 1 and will be on the spot by April 13, the commission said.
“Meanwhile, we will always remain open to negotiations,” said von der Leyen.
The President of the European Commission, Ursul von der Leyen, addresses the MEPs on new plans to increase the defense spending agreed at the summit last week, on Tuesday, March 11, 2025 in the European Parliament in Strasbourg, Eastern France.
Pascal Bastien/AP
The final measures consist of two stages, the first of which – to restore April 1, a set of previously suspended in 2018 and 2020 against the United States for a number of products.
In the second stage, Member States will create new countermeashed measures to about 18 billion euros of US goods by mid-April.
These new counteraction measures will be focused on industrial and agricultural products, including steel and aluminum, home appliances, wood products, poultry, beef and other food imports, according to a message published on Wednesday.
Moros Sefkovich, the EU Trade Commissioner said that European officials will continue to work with their American counterparts for “win -win” results, but “unjustified tariffs for our exports will not be unanswered.”
“We must make these big relationships stronger, not weaker,” he said in a statement.
ABC NEWS ‘ZUNAIRA ZAKI made his contribution to this report.