According to Reuters, U.S. President Donald Trump threatened on Wednesday to impose more tariffs on European Union goods in response to the EU's plan to impose retaliatory tariffs on some U.S. products next month. Previously, the U.S. had imposed a 25% tariff on all imported steel and aluminum products, triggering retaliatory measures from major trading partners such as Canada and the EU. Canada announced a 25% tariff on U.S. steel, aluminum, and other products, totaling $29.8 billion, and lowered interest rates to address the economic impact. The EU plans to impose tariffs on $28 billion worth of U.S. products, but European Commission President Ursula von der Leyen expressed willingness to resume negotiations with the U.S.
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Trump threatens to impose additional tariffs on the EU, escalating trade tensions between the US, Canada, and the EU.
According to Reuters, U.S. President Donald Trump threatened on Wednesday to impose more tariffs on European Union goods in response to the EU's plan to impose retaliatory tariffs on some U.S. products next month. Previously, the U.S. had imposed a 25% tariff on all imported steel and aluminum products, triggering retaliatory measures from major trading partners such as Canada and the EU. Canada announced a 25% tariff on U.S. steel, aluminum, and other products, totaling $29.8 billion, and lowered interest rates to address the economic impact. The EU plans to impose tariffs on $28 billion worth of U.S. products, but European Commission President Ursula von der Leyen expressed willingness to resume negotiations with the U.S.