New U.S. steel and aluminium tariffs took effect on March 12, galvanising countries around the world amid a swiftly intensifying trade war.
A 25 percent import tax on all steel and aluminium coming into the United States was initially announced by President Donald Trump a month ago, restoring a policy from his first term.
Exemptions for countries including Canada, Mexico, Brazil, South Korea, the EU, and the UK, which were previously in place, have now been removed. Trump has said that these previous exemptions created loopholes that countries like China had taken advantage of.
The EU, calling the tariffs “unjustified,” immediately responded with tariffs on up to £22 billion worth of American goods, starting next month….