Donald Trump has announced plans to increase tariffs, following his decision to impose import taxes on steel and aluminum entering the U.S. This move prompted retaliatory actions from the European Union (EU) and Canada. Canada, under Prime Minister Mark Carney, imposed 25% tariffs on $155 billion of U.S. goods, escalating tensions between the nations. Trump responded by stating he would raise tariffs on Canadian goods from 25% to 30%. The European Union also retaliated with its own tariffs, which Trump vowed to match, declaring that the U.S. would charge whatever tariffs the EU imposed.

Trump’s aggressive stance has been met with criticism from global leaders, including EU President Ursula von der Leyen, who warned that tariffs would harm businesses and consumers, potentially leading to job losses and higher prices. While the UK, a major U.S. supplier of metals, refrained from immediate retaliation, opposition leader Keir Starmer expressed disappointment over the global tariff situation. Starmer emphasized that the UK would adopt a pragmatic approach, continuing negotiations for an economic deal that could address tariffs in the future.