Topics: Donald Trump, US News, World News, News, Politics, Money
Donald Trump has pledged to impose even more tariffs following his latest decision to introduce import taxes on steel and aluminium entering the United States.
Such a move prompted retaliation from the European Union (EU) and Canada, with the latter's new prime minister Mark Carney previously speaking about the tariffs in his first speech since being elected, saying he can 'no longer trust' America as he addressed escalating tensions.
Trump's administration last week hit goods from Canada with a brutal new 25 percent tariff - a move later accused by some of triggering a global trade war, after Canada retaliated by adding its own 25 percent tariffs onto $155b in US goods.
And just yesterday on Wednesday (12 March), the president told press he'll be increasing tariffs on goods from Canada from 25 to 30 percent following Canada's retaliation.
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Leaders across Europe, as well as Canada, have said that the new metals taxes are unjustified and have hit back with their own tariffs on a number of US products.
The 78-year-old Republican has now said he would 'of course' respond to the countermeasures, repeating his warning to later announce 'reciprocal' tariffs next month on countries across the globe.
During Trump's meeting with the Irish prime minister, Micheál Martin, in the Oval Office on Wednesday, Trump declared his brutal stark eight-word response: "Whatever they charge us with, we're charging them."
The statement was made when the pair were discussing the EU's counter-measures announced by the 27-member bloc.
Trump stated that if the EU charges 20 percent or 200 percent - it does not matter as they will face the same retaliatory tariff.
"We have been abused for a long time, and we will be abused no longer," he said, claiming that the EU 'treats us very badly'.
Speaking of the retaliatory response, EU President Ursula von der Leyen said it was intended to be 'strong but proportionate' and added that the EU was 'ready to engage in a meaningful dialogue'.
"Tariffs are taxes. They are bad for business and worse for consumers," she said, issuing a warning over that the economic disruption could put jobs at stake and would send prices higher."
She added: "Nobody needs that - on both sides, neither in the European Union nor in the United States."
The UK, however, which is a key US supplier of metals, held off on any immediate retaliation.
Speaking at Prime Minister’s Questions yesterday, Keir Starmer admitted: "I’m disappointed to see global tariffs in relation to steel and aluminium."
He added of the UK, 'We will take a pragmatic approach', explaining that he is in the midst of 'negotiating an economic deal which covers and will include tariffs if we succeed'.
"But we will keep all options on the table."
