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Photo: iStock / AlexLMX
With U.S. tariffs against imported steel and aluminum having gone into effect, the European Union and Canada have both announced plans to retaliate with levies of their own.
The Trump administration's 25% tariffs came into force on March 12, and apply to all steel and aluminum imported into the U.S. That same day, Canada's Finance Minister Dominic LeBlanc said that new 25% counter-tariffs on C$20 billion ($13.9 billion) worth of U.S. goods will start on March 13, including steel and aluminum, as well as computers, sports equipment and cast iron products, CNBC reports. Those will be in addition to existing 25% tariffs on U.S. orange juice, peanut butter, coffee, appliances, cosmetics, motorcycles and paper products, valued around C$30 billion.
The EU's countermeasures — which will gradually take effect between April 1 and April 13 — will impact roughly €26 billion ($28.4 billion) worth of U.S. products, including textiles, leather goods, home appliances, household tools, plastics, wood and a range of agriculture products, in addition to steel and aluminum.
"While the EU will continue to engage towards finding win-win deals, we have made clear from the start that unjustified tariffs on our exports will not go unanswered, and we will not shy away from protecting our legitimate economic interests," said EU trade commissioner Maroš Šefčovič.
Although the United Kingdom has yet to hit back against President Trump's tariffs, Prime Minister Keir Starmer told the House of Commons that he "will keep all options on the table," and that negotiations with the U.S. have been ongoing, according to the Associated Press.
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