Donald Trump's new 25% tariffs on steel and aluminum have prompted immediate global reactions, particularly from the European Commission. They announced plans for counter tariffs worth $28 billion on U.S. goods, emphasizing their regret over the unjustified trade restrictions. Australian officials expressed disappointment, labeling the tariffs as economic self-harm and questioning the treatment of longstanding allies. The calls for alternative market diversification highlight the shift in trade dynamics, raising concerns about the impact on international relations and economic security as these measures unfold.
We deeply regret this measure, European Commission chief Ursula von der Leyen said in a statement about the US tariffs, as Brussels announced it would be launching a series of countermeasures.
We'll be able to find other markets for our steel and our aluminium and we have been diversifying those markets. We have been disappointed by the lack of exemptions.
I think this is a dog act after over a century of friendship. Australians have stood by and stood with Americans for many decades.
Trying to improve trade relationships between countries is good for economies and workers when done right, but what we have seen here raises questions.
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