The EU has responded quickly and announced its own tariffs in the multi-billion class following the US's decision to impose 25-percent tariffs on steel and aluminum. At the same time, the tariff war between the US and Canada appears to be heating up again.
After the conflict earlier in the week – where the US ultimately backed down from the threat of imposing 50-percent punitive tariffs – Canada has now presented its own response to the American tariffs.
The tariffs, which come into effect from Thursday, apply to, among other things, computers, sports equipment, and water heaters, to a value of approximately 200 billion kronor.
We will not stand idly by while our iconic steel and aluminum industries are unfairly targeted, says Finance Minister Dominic LeBlanc.
"Close contact" with the US
Incoming Prime Minister Mark Carney has simultaneously opened up for direct negotiations with Donald Trump – but with his own demands.
I am ready to sit down with President Trump at the right time and with respect for (Canada's) sovereignty, said Carney in a speech to steelworkers in Hamilton, Ontario.
The UK still hopes for a broader economic agreement with the US instead of countermeasures.
I am disappointed to see global tariffs as a response to steel and aluminum (tariffs). But we will take a pragmatic approach, says Prime Minister Keir Starmer in parliament and adds that his government "is negotiating an economic agreement that includes tariffs".
But we will keep all options on the table.
"Regrettable" tariffs
Mexico's President Claudia Sheinbaum announces that the country will not impose retaliatory tariffs against the US and the imposed tariffs on steel and aluminum – yet. She says she wants to wait until April 2 "to see if we need to act".
Even from China and Japan, the tone has so far been cautious.
China has announced that "all necessary measures" will be taken to protect the country's interests. Mao Ning, spokesperson for China's Foreign Ministry, said that the US's actions "seriously violate" the rules within the World Trade Organization (WTO).
According to Yoshimasa Hayashi, spokesperson for the Japanese government, the tariffs risk having a "significant impact on the economic relationship between Japan and the US".
