Trump returns after retaliation to steel and aluminum tariffs

The president of the United States, Donald Trump, has promised to impose more tariffs after his latest movement to introduce import taxes on steel and aluminum that entered the United States caused reprisals of the European Union (EU) and Canada.

Trump said “of course” that he would respond to the countermeasures, repeating his warning to reveal “reciprocal” tariffs next month in countries around the world.

“Whatever they charge us, we are charging them,” he said.

The threat marked a greater escalation of a commercial war that has shaken financial markets amid concerns about the impact on economies and consumers in many countries of the world, including the United States.

On Wednesday, Trump advanced with a plan to expand American tariffs on steel and aluminum, imposing a general duty of 25% and final exemptions that the United States had previously granted for the shipments of some countries.

That followed an order earlier this month that raised the levies on Chinese imports to the US at least 20%.

Trump has also threatened with tariffs, which are taxes applied to goods as they enter a country, in a variety of more specific items, including copper, wood and cars.

Leaders in Canada and Europe called new metals Unjustified and returned with their own tariffs in a variety of American products.

Other countries that are key providers of American metals, including the United Kingdom, Australia, Mexico and Brazil, remained in immediate retaliation.

“Like everyone else, I am disappointed to see global tariffs in relation to steel and aluminum, but we will adopt a pragmatic approach,” said Prime Minister of the United Kingdom, Sir Keir Starmer.

“We are … negotiating an agreement that covers and includes rates if we are successful. But we will keep all the options on the table.”

Canada said since Thursday that it would begin to collect a 25% tax at almost C $ 30 billion ($ 20 billion; £ 16 billion) of American products, including steel, computers and sports equipment.

Prime Minister’s designated Mark Carney, said it was Ready to negotiate a renewed commercial agreement with Trump, provided there is “respect for Canadian sovereignty.”

The EU said it would raise its levies up to 26 billion euros ($ 28 billion; £ 22 billion) of American products, including ships, bourbon and motorcycles, as of April 1.

The president of the EU, Ursula von der Leyen, said that the answer was intended to be “strong but proportional” and added that the EU was “ready to participate in a significant dialogue.”

“Tariffs are taxes. They are bad for businesses and worse for consumers,” he said, warning that economic interruption puts jobs at stake and would send higher prices.

“No one needs that, on both sides, neither in the European Union nor in the United States.”

Trump had said that he wants to boost the production of steel and aluminum of the United States in the long term, but critics say that in the immediate term that the taxes on imports of metals will increase prices for US consumers and the economic growth of abolish.

The main manufacturers of packaged foods, including Quaker Oats and Folgers Coffee, asked Trump specific tariff exemptions on imports such as cocoa and fruit, according to a letter seen by Reuters.

Pepsico, Conagra and JM Smucker, also asked the president exempt ingredients that are not available from US sources in the letter, which was sent by the commercial group of the Association of Consumer Branders.

Coffee, oatmeal, cocoa, spices, tropical fruit and steel of the tin molina, used for some foods and household items, are among the imports that are not available in the country, Reuters reported.

Import taxes are also expected to reduce the demand for steel and aluminum that is not carried out in the United States, a blow to metal manufacturers in other places.

The EU estimated that the last American tariffs affect approximately 5% of its total exports to the US.

The actions in the United States mixed on Wednesday, after two days of strong decline. The Dow closed 0.2%, while the S&P 500 ended almost 0.5%higher and Nasdaq increased 1.2%.

In an appearance at the White House with Irish prime minister, Taoiseach Micheál Martin, Trump said he did not plan to go back to his commercial fight, saying that “I was not happy” with the EU commercial policies.

He cited concerns about the legal sanctions that have imposed on Apple and the rules he said they put us agricultural products and cars at a disadvantage.

“They are doing what they should be doing perhaps by the European Union, but creates bad will,” he said.

Repeating his threat of hitting European cars with tariffs, he added later: “We are going to win that financial battle.”