{"id":599,"date":"2025-03-12T21:02:45","date_gmt":"2025-03-12T21:02:45","guid":{"rendered":"https:\/\/wpinitiate.com\/echo-test\/demo973e36f5\/2025\/03\/12\/trump-tariffs-live-updates-europe-and-canada-retaliate-after-steel-and-aluminum-tariffs-take-effect-the-new-york-times\/"},"modified":"2025-03-12T21:02:45","modified_gmt":"2025-03-12T21:02:45","slug":"trump-tariffs-live-updates-europe-and-canada-retaliate-after-steel-and-aluminum-tariffs-take-effect-the-new-york-times","status":"publish","type":"post","link":"https:\/\/wpinitiate.com\/echo-test\/demo973e36f5\/2025\/03\/12\/trump-tariffs-live-updates-europe-and-canada-retaliate-after-steel-and-aluminum-tariffs-take-effect-the-new-york-times\/","title":{"rendered":"Trump Tariffs Live Updates: Europe and Canada Retaliate After Steel and Aluminum Tariffs Take Effect – The New York Times"},"content":{"rendered":"
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Here\u2019s the latest.<\/a><\/h2>\n<\/p>\n

Global trade worries deepened on Wednesday as the European Union and Canada announced billions of dollars in retaliatory tariffs on U.S. exports after President Trump\u2019s across-the-board levies on steel and aluminum imports took effect<\/a>. Economists worry that the trade fight instigated by Mr. Trump will over time dent economic growth and lift U.S. consumer prices, which rose slightly less than analysts expected in February, according to inflation data released Wednesday.<\/p>\n

Mr. Trump has appeared undeterred by the uncertainty and fear<\/a> that his tariffs, targeted at friends and foes alike, have injected into the global economy. In remarks at the White House, he talked about the so-called reciprocal tariffs he planned to put on other countries in April, and said of the new E.U. retaliation on Wednesday, \u201cOf course I\u2019m going to respond.\u201d<\/p>\n

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Data showing cooler-than-expected inflation helped stocks rebound, rolling back some losses from recent days. But while the S&P 500 index finished up 0.5 percent for the day, trade tensions and lingering uncertainty<\/a> continued to weigh on investors and governments.<\/p>\n

Hours after Trump\u2019s tariffs on metals took effect, 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\u2019s 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<\/a> earlier this month after an initial round of levies by Mr. Trump.<\/p>\n

Dominic LeBlanc, Canada\u2019s finance minister, said that the government could retaliate again if the Trump administration imposed further levies on steel and aluminum.<\/p>\n

Earlier on Wednesday, the European Union announced that retaliatory tariffs<\/a> 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<\/a>, emphasized that they were ready to strike a deal with the Trump administration. \u201cJobs are at stake, prices up \u2014 nobody needs that,\u201d said Ursula von der Leyen, president of the European Commission.<\/p>\n

The 25 percent tariffs on imports of steel and aluminum have the support of some U.S. domestic producers<\/a>. But they could hit a range of industries, including car manufacturing, and could increase the prices of domestic metals in the short term \u2014 all factors that could potentially slow down the American economy.<\/p>\n

Mr. Trump issued tariffs<\/a> on Canada, Mexico and China last week, though he quickly walked some of them back<\/a>. Many of the targeted countries vowed to retaliate<\/a> with their own tariffs. Mexico and Brazil, however, have chosen to hold off. President Claudia Sheinbaum of Mexico said her government would wait until April 2 to decide whether to impose reciprocal tariffs on U.S. goods, but reassured the Mexican people that her government had \u201ca plan.\u201d<\/p>\n

China did not directly address the latest U.S. tariffs, although its Foreign Ministry spokeswoman said the government would take \u201cfirm measures\u201d to safeguard its interests.<\/p>\n

Here\u2019s what else we\u2019re covering:<\/p>\n