BRUSSELS (AP) — Major trade partners swiftly hit back at President Donald Trump’s increased tariffs on aluminum and steel imports, imposing stiff new taxes on U.S products from textiles and water heaters to beef and bourbon.
Canada, the largest steel supplier to the U.S., said Wednesday it will place 25% reciprocal tariffs on steel products and also raise taxes on a host of items: tools, computers and servers, display monitors, sports equipment, and cast-iron products.
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European Commission President Ursula von der Leyen announced the retaliatory trade action after the Trump administration officially increased tariffs on all steel and aluminum imports to 25%, with duties on industrial and agricultural products that will go into effect April 1. The EU measures will cover goods from the United States worth some 26 billion euros ($28 billion), and not just steel and aluminum products, but also textiles, home appliances and agricultural goods.
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Steel on coil cars ahead of transport at the main factory of struggling steel producer thyssenkrupp in Duisburg, Germany, Tuesday, Feb. 4, 2025. (AP Photo/Martin Meissner, File)
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President Donald Trump waves to the media as he walks on South Lawn of the White House, in Washington, Sunday, March 9, 2025. (AP Photo/Jose Luis Magana)
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European Commission president Ursula von der Leyen addresses European Parliament members on new plans to ramp up defense spending agreed at last week’s summit, Tuesday, March 11, 2025 at the European Parliament in Strasbourg, eastern France. (AP Photo/Pascal Bastien)
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Secretary of Commerce Howard Lutnick speaks with reporters after President Donald Trump addressed a joint session of Congress at the Capitol in Washington, Tuesday, March 4, 2025. (AP Photo/Ben Curtis)
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Bourbon barrels with product in them are seen inside of the Brough Brothers Distillery in Louisville, Ky., Saturday, March 8, 2025. (AP Photo/Jon Cherry)
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Labeling on the head of a bourbon barrel is seen near bottles of product at the Brough Brothers Distillery which is under construction in Louisville, Ky., Saturday, March 8, 2025. (AP Photo/Jon Cherry)
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The Harley-Davidson logo on a tank of a motor bike is pictured in Frankfurt, Germany, Wednesday, March 12, 2025. (AP Photo/Michael Probst)
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By LORNE COOK, DAVID MCHUGH and ROB GILLIES
Updated 10:50 AM PDT, March 12, 2025
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BRUSSELS (AP) — Major trade partners swiftly hit back at President Donald Trump’s increased tariffs on aluminum and steel imports, imposing stiff new taxes on U.S products from textiles and water heaters to beef and bourbon.
Canada, the largest steel supplier to the U.S., said Wednesday it will place 25% reciprocal tariffs on steel products and also raise taxes on a host of items: tools, computers and servers, display monitors, sports equipment, and cast-iron products.
Steel on coil cars ahead of transport at the main factory of struggling steel producer thyssenkrupp in Duisburg, Germany, Tuesday, Feb. 4, 2025. (AP Photo/Martin Meissner, File)
Read More
Across the Atlantic, the European Union will raise tariffs on American beef, poultry, bourbon and motorcycles, bourbon, peanut butter and jeans.
Combined, the new tariffs will cost companies billions of dollars, and further escalate the uncertainty in two of the world’s major trade partnerships. Companies will either take the losses and earn fewer profits, or, more likely, pass costs along to consumers in the form of higher prices.
Prices will go up, in Europe and the United States, and jobs are at stake, said European Commission President Ursula von der Leyen.
“We deeply regret this measure. Tariffs are taxes. They are bad for business, and even worse for consumers,” von der Leyen said
apnews.com
Canada, the largest steel supplier to the U.S., said Wednesday it will place 25% reciprocal tariffs on steel products and also raise taxes on a host of items: tools, computers and servers, display monitors, sports equipment, and cast-iron products.
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Canada and the EU swiftly retaliate against Trump’s steel and aluminum tariffs
0 seconds of 1 minute, 16 seconds
1 of 8 |
European Commission President Ursula von der Leyen announced the retaliatory trade action after the Trump administration officially increased tariffs on all steel and aluminum imports to 25%, with duties on industrial and agricultural products that will go into effect April 1. The EU measures will cover goods from the United States worth some 26 billion euros ($28 billion), and not just steel and aluminum products, but also textiles, home appliances and agricultural goods.
Read More
2 of 8 |
Steel on coil cars ahead of transport at the main factory of struggling steel producer thyssenkrupp in Duisburg, Germany, Tuesday, Feb. 4, 2025. (AP Photo/Martin Meissner, File)
Read More
3 of 8 |
President Donald Trump waves to the media as he walks on South Lawn of the White House, in Washington, Sunday, March 9, 2025. (AP Photo/Jose Luis Magana)
Read More
4 of 8 |
European Commission president Ursula von der Leyen addresses European Parliament members on new plans to ramp up defense spending agreed at last week’s summit, Tuesday, March 11, 2025 at the European Parliament in Strasbourg, eastern France. (AP Photo/Pascal Bastien)
Read More
5 of 8 |
Secretary of Commerce Howard Lutnick speaks with reporters after President Donald Trump addressed a joint session of Congress at the Capitol in Washington, Tuesday, March 4, 2025. (AP Photo/Ben Curtis)
Read More
6 of 8 |
Bourbon barrels with product in them are seen inside of the Brough Brothers Distillery in Louisville, Ky., Saturday, March 8, 2025. (AP Photo/Jon Cherry)
Read More
7 of 8 |
Labeling on the head of a bourbon barrel is seen near bottles of product at the Brough Brothers Distillery which is under construction in Louisville, Ky., Saturday, March 8, 2025. (AP Photo/Jon Cherry)
Read More
8 of 8 |
The Harley-Davidson logo on a tank of a motor bike is pictured in Frankfurt, Germany, Wednesday, March 12, 2025. (AP Photo/Michael Probst)
Read More
By LORNE COOK, DAVID MCHUGH and ROB GILLIES
Updated 10:50 AM PDT, March 12, 2025
Share
BRUSSELS (AP) — Major trade partners swiftly hit back at President Donald Trump’s increased tariffs on aluminum and steel imports, imposing stiff new taxes on U.S products from textiles and water heaters to beef and bourbon.
Canada, the largest steel supplier to the U.S., said Wednesday it will place 25% reciprocal tariffs on steel products and also raise taxes on a host of items: tools, computers and servers, display monitors, sports equipment, and cast-iron products.
Steel on coil cars ahead of transport at the main factory of struggling steel producer thyssenkrupp in Duisburg, Germany, Tuesday, Feb. 4, 2025. (AP Photo/Martin Meissner, File)
Read More
Across the Atlantic, the European Union will raise tariffs on American beef, poultry, bourbon and motorcycles, bourbon, peanut butter and jeans.
Combined, the new tariffs will cost companies billions of dollars, and further escalate the uncertainty in two of the world’s major trade partnerships. Companies will either take the losses and earn fewer profits, or, more likely, pass costs along to consumers in the form of higher prices.
Prices will go up, in Europe and the United States, and jobs are at stake, said European Commission President Ursula von der Leyen.
“We deeply regret this measure. Tariffs are taxes. They are bad for business, and even worse for consumers,” von der Leyen said
Canada and the EU swiftly retaliate against Trump's steel and aluminum tariffs
European Commission President Ursula von der Leyen said as the United States is “applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros,” or about $28 billion.
apnews.com
