Hours after Donald Trump’s across-the-board levies on steel and aluminum imports took effect, Canada and the European Union announced billions of dollars in retaliatory tariffs on U.S. exports.
As President Trump’s global tariffs on metals took effect on Wednesday, the EU and Canada announced billions of dollars in levies on American goods. Economists worry that the trade war could lift U.S. consumer prices, which rose slightly less than expected in February. nyti.ms/3R25bzg [image or embed]
— The New York Times (@nytimes.com) March 12, 2025 at 9:26 AM
From the New York Times:
The Canadian government said that it would impose new retaliatory tariffs on $20 billion worth of U.S. imports in response to the latest Trump measures.
Canada’s latest moves are centered on steel and aluminum imports, but they also apply to tools, computers, sporting goods and cast iron. They were imposed on top of 25 percent tariffs that Ottawa announced earlier this month after an initial round of levies by Mr. Trump.
Hours earlier, the European Union announced that retaliatory tariffs of up to about $28 billion on U.S. goods would take effect April 1, in proportion to about $26 billion in tariffs applied by the United States.
But European officials, already facing a lackluster economy, emphasized that they were ready to strike a deal with the Trump administration.
More at the New York Times. #SoMuchWinning
The Trump administration keeps saying that other countries pay for tariffs, but that’s not how they work.
Tariffs are effectively taxes on imported products, which the American people ultimately pay. [image or embed] — Robert Reich (@rbreich.bsky.social) March 11, 2025 at 12:40 PM
BREAKING: Canadian Finance Minister Dominic LeBlanc has just announced tariffs on $29.8B worth of U.S. goods. This includes tariffs on Steel, Aluminum, computers, tools, sporting equipment and cast iron products. Thank Trump if you own a business in these sectors. pic.twitter.com/Vhs2HCHMHb
— Brian Krassenstein (@krassenstein) March 12, 2025
BREAKING: Mitch McConnell ripped apart Donald Trump’s plan to put tariffs on imported goods. Retweet so all Americans see Mitch McConnell destroy Donald Trump’s economic agenda.pic.twitter.com/S6tgoyLNTM
— Really American (@ReallyAmerican1) March 12, 2025
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