24-Apr-2025  Srinagar booked.net

World

US Slaps Tariffs on Imports from Multiple Countries

Europe, Canada, China among targets as Trump administration escalates economic tensions

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WASHINGTON, March 13 — The United States has imposed sweeping tariffs on steel and aluminium imports from multiple countries, escalating trade tensions worldwide. 
 
The new duties, effective Wednesday, include a 25% levy on steel and a 10% duty on aluminium, with no exemptions. Canada, Mexico, China, the European Union, Brazil, and South Korea face additional tariffs as the administration pursues "reciprocal" trade measures starting April 2.
 
Trading partners immediately condemned the move, with the European Commission announcing counter-duties on $28 billion worth of American goods. 
 
“This matches the economic scope of the US tariffs,” said Commission President Ursula von der Leyen, warning that such measures could weaken Western unity in an already uncertain global economy. 
 
“We will always remain open to negotiation, but it is not in our common interest to burden our economies with tariffs,” she added.
 
The tariffs apply to all metal imports, while separate levies target Canada, Mexico, and China. The US also plans to impose “reciprocal” duties on imports from the European Union, Brazil, and South Korea starting April 2.
 
Trump defended the move, claiming it would boost the US metals industry and create jobs. However, markets reacted nervously, with fears of rising consumer prices and a broader economic slowdown.
 
Global Response
 
Canada, the largest foreign supplier of steel and aluminium to the US, signaled possible countermeasures, while British Business and Trade Secretary Jonathan Reynolds said “all options were on the table” to protect national interests.
 
Australian Prime Minister Anthony Albanese strongly criticized the decision, calling it “entirely unjustified … and against the spirit of our two nations’ enduring friendship.” However, he ruled out imposing retaliatory duties.