Trade Tensions Rise: Trump's Tariff Shocker

Mexico, Canada, and the European Union have condemned U.S. President Donald Trump's decision to increase tariffs on steel and aluminium imports to 25%, sparking fears of a trade war. The tariffs, set to take effect on March 12, will impact millions of tons of imports from various countries.

In a move that has stirred global trade tension, U.S. President Donald Trump has announced an increase in tariffs on steel and aluminium imports to 25%, a decision denounced by Mexico, Canada, and the European Union. The tariff adjustment, effective on March 12, targets millions of tons of imports from countries previously exempted.

Mexico's Economy Minister Marcelo Ebrard criticized the tariffs as 'unjustified' and 'unfair,' while Canada's Prime Minister Justin Trudeau deemed them 'unacceptable.' European Commission President Ursula von der Leyen also voiced her disapproval, assuring that the EU would implement 'firm and proportionate countermeasures.'

The decision could have broader economic implications, affecting industries reliant on these metals and potentially provoking retaliatory tariffs from affected nations. The American Chamber of Commerce to the EU expressed concern over the potential negative impact on jobs and prosperity on both sides of the Atlantic.

(With inputs from agencies.)