Washington: The Trump administration officially announced a 25% tariff on all steel and aluminum products, leading to retaliatory actions from the European Union (EU) and Canada. The EU has decided to impose tariffs on $28 billion worth of American goods, lifting the current tariff suspension from April 1, as stated by European Commission President Ursula von der Leyen. She emphasized that while the EU is open to negotiations, economic instability prevents member countries from bearing the burden of these tariffs. The new tariffs will impact various goods, including textiles, household appliances, plastic, wood, poultry, beef, seafood, nuts, eggs, sugar, and vegetables.

The European Commission warned that these U.S. tariffs would not only lead to job losses in both the U.S. and Europe but also increase product prices. President Trump claimed that these tariffs would help create jobs in American factories, but the EU countered that consumers and businesses would ultimately suffer. Meanwhile, Canada also imposed retaliatory tariffs worth $20.7 billion on U.S. goods, including computers, sports equipment, and various other products, set to take effect from Thursday.

Additionally, the Trump administration criticized India's high tariffs on American goods, particularly agricultural products and liquor. The U.S. government stated that India imposes a 150% tariff on American alcoholic beverages and agricultural imports, making exports to India increasingly difficult. The White House Press Secretary, Katharine Leavitt, also pointed out that Canada imposes nearly 300% tariffs on U.S. dairy products, further exacerbating trade tensions.