EU, Canada announce retaliatory tariffs on US products; others decry

Canada, the biggest foreign supplier of steel and aluminum to the United States, announced 25-per cent retaliatory tariffs on those metals along with computers, sports equipment and other products worth $20 billion in total.

The EU announced retaliatory tariffs on $28 billion worth of a wide range of US goods imported to Europe. Calling the new US tariffs ‘unjustified’, the European Commission said the levies would kick in on April 1, with additional countermeasures introduced in mid-April.

Trump later told reporters at the White House that he would impose additional penalties if the EU follows through with its plan to enact counter tariffs on some US goods next month.

Terming the US tariffs ‘disappointing’, UK business and trade secretary Jonathan Reynolds said his country is “focused on a pragmatic approach” and negotiating a broader deal.

Australian Prime Minister Anthony Albanese called the US tariff ‘entirely unjustified’, but added that imposing reciprocal tariffs “would only push up prices for Australian consumers,” and hence his country would not impose any such tariffs on US goods.

Japanese government’s top spokesperson Yoshimasa Hayashi told reporters in Tokyo it is ‘regrettable’ that the new US tariffs had been imposed ‘without excluding Japan’.

Cheong In-kyo, trade minister of South Korea, a major steel producer, said he will be in Washington for two days starting today for tariff discussions.

China, the world’s largest steel producer, meanwhile, accused the United States of violating World Trade Organisation rules and said it would take ‘all necessary measures’ to protect its rights and interests. It announced new tariffs in return.

Fibre2Fashion News Desk (DS)