The European Union described 25% steel and aluminum tariffs as “unjust.”
The new US steel and aluminum tariffs came into effect on March 12, revitalizing countries around the world amid a rapid strengthening of the trade war.
A 25% import tax on all steel and aluminum coming into the US was first announced by President Donald Trump a month ago, recovering policy from his first term.
The EU has called tariffs “unjust” and has responded quickly with tariffs on American products worth up to £220 billion starting next month.
Prime Minister Kiel explained that he was disappointed with the tariffs.
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“We are disappointed to see global tariffs related to steel and aluminum. But we take a practical approach. We are negotiating economic transactions that cover and include tariffs if successful, as he knows. But we keep all the options on the table.”
The US is one of the UK’s largest trading partners, trading an estimated total of £115 billion in 2024.
Canada’s Finance Minister Dominique LeBlanc said Wednesday that Canada, the largest importer of steel and aluminum in the United States, has pledged a tariff of £16 billion in retaliation, Canada’s Finance Minister Dominique LeBlanc.
The stock market plummeted on March 10th following Trump’s threat to increase tariffs on Canada’s aluminum and steel imports.
Tensions between the US and Canada eased after discussion, and the parties eventually retreated.
Part of Trump’s “Make America Great Again” campaign promise was to revive American industry and stop what he sees as unfair trade practices by other countries.
Accusing them that they have not done enough to stop the flow of fentanyl coming from China to the country, the president initially targeted Canada and Mexico, charging 25% on all imports, with Canadian energy products at 10%.
He then retreated after receiving commitments from both countries to deal with the crisis.
The EU also has an unfair advantage over the US, meaning it is on the boundary of fires through VAT. Trump has announced a mutual tariff of 25% on all imports on the bloc.
Copper and wood are also putting the spotlight on potential tariffs as the US seeks to revive industry and sees supply chain vulnerabilities as a national security threat.
Andrew Moran and Reuters contributed to this report.
