Trade War Intensifies as Canada, China, and EU Strike Back at US Tariff

Reacts to recent tariffs imposed by the US, Canada, China, and the European Union have adopted retaliatory steps. Canada has placed tariffs on around $20.8 billion worth of goods from the US, reflecting the US's 25% steel and aluminum tariffs. China too has retaliated by imposing tariffs on Canadian farm products, barring canola that is under review. The EU has threatened to impose tariffs on $28.4 billion worth of US goods, scheduled to be implemented in April. Mexico has also opted to wait for possible developments before taking retaliatory measures. The actions point to the rising global trade tensions, with each country trying to safeguard its economic interests.

 

Source: Global Trade News Network