The planned tariffs of 25 % over all imports of steel and aluminum to the United States entered into force on Wednesday, a measure that affects Argentina, Brazil, Mexico, Canada and Japan.
The United States on Wednesday promulgated new 25% tariffs on all imports of steel and aluminum, ending the previous exemptions in force for several allies.
The measure affects the imports of Argentina, Australia, Brazil, the United Kingdom, Canada, Japan, Mexico, South Korea and the European Union.
“In my opinion, these modifications are necessary to address the significant increase in the proportion of imports of steel articles and steel derivatives of these sources, which threaten to harm the national security of the United States,” said US President Donald Trump in a proclamation announced by tariffs.
The European Union responded on Wednesday announcing plans to impose tariffs on US products worth $ 28,000 million from April.
“We will always be open to negotiation. We firmly believe that, in a world full of geopolitical and economic uncertainties, we should not impose tariffs on our economies, ”said the president of the European Commission, Ursula Von der Leyen, in a statement.
The Australian prime minister, Anthony Albanese, described the American action as “totally unjustified”, but ruled out the imposition of tariffs as reprisal.
“Tariffs and escalation of commercial tensions are a form of economic self -harm and a recipe for slower growth and greater inflation. They are paid by consumers. Therefore, Australia will not impose reciprocal tariffs to the United States, ”said Albanese on Wednesday.
Canada got rid of an even higher set of tariffs after Trump retracted his promise to Increase 50 % Canadian steel and aluminum.
Last week, Trump announced first and then delayed a 25% tariff for almost a month to all products exported to the United States from Canada, normally a faithful ally and the second largest commercial partner after Mexico. Trump said he is pressing Canada to stop the flow of migrants and illicit drugs further, especially the mortal Fentanyl Opioid, to the United States.
The response of Canada included the imposition by officials of the province of Ontario of a 25 % tax on electricity sold to 1.5 million US clients, which caused Trump's anger and the threat of increasing tariffs on steel and aluminum.
American and Canadian officials met on Tuesday and agreed to back down: Ontario canceled the Tax on Electricity and the Trump administration reduced the tariffs to steel and 25 %aluminum.
The outgoing Canadian prime minister, Justin Trudeau, responded to Trump's offensive against Canadian products last week announcing an increase in US export tariffs. Mark Carney, who will become Prime Minister in the next few days, declared on Tuesday that the government's response will maximize the impact on the United States and minimize the impact on Canada.
“My government will keep our tariffs until Americans show us respect and compromise in a credible and reliable way with free and fair trade,” said Carney in a statement.
Trump also reiterated his suggestion to become the US number 51.
“This would make all tariffs, and everything else, disappeared completely,” Trump said Tuesday on his social truth platform. “The taxes of the Canadians would be reduced substantially, they would be safer, both military and economically, that never, there would be no problems on the northern border, and the largest and most powerful nation in the world would be larger, better and stronger than ever. And Canada will be an important part of this. ”
He suggested that the Canadian national anthem, “Oh Canada”, could still be sung, “but now representing a great and powerful state within the greatest nation that the world has seen!”
Trump's tariff and commercial war with Canada and Mexico, which a new 25 % tax on exports also imposed last week before postponing it, has generated nervousness in Wall Street.
Stock indices have collapsed for days, canceling large market profits for wealthy Americans, along with much more modest profits for common investors.
(With information from The Associated Press, Agenze France-Presse and Reuters)