Trump Vows US Will Respond to Europe's Metal Tariff Retaliation

[progree]

Source: Bloomberg

President Donald Trump said the US would respond to the European Union's countermeasures against his new 25% tariffs on steel and aluminum, raising the risk of further escalation in his global trade war.

"Of course I'm going to respond," Trump said Wednesday when asked by reporters at the White House if he would retaliate. "The problem is our country didn't respond. Look, the EU was set up in order to take advantage of the United States."

Trump did not specify which measures he would take. The US president's metals duties that took effect Wednesday triggered immediate reprisals from the EU and Canada, and sparked other nations to intensify negotiations with the Trump administration over lifting the import taxes.

The European Commission offered the strongest reaction so far to Trump's latest trade offensive. It launched "swift and proportionate countermeasures" on US imports, reimposing balancing measures from 2018 and 2020 and adding a new list of industrial and agricultural goods. The EU's countermeasures will apply to US goods exports worth up to 26 billion ($28.4 billion) -- matching the economic scope of the US tariffs, it said.

Read more: https://finance.yahoo.com/news/trump-extends-trade-fight-steel-041016689.html

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Canada also put tariffs on $billions of U.S. goods today

No paywall on this Bloomberg article at this Yahoo Finance hosting site, at least I'm not encountering one.

Published March 12, 2025 at 12:17 PM CDT

Short article ... until I clicked the "Story Continues" button, sigh. Not so short

At 3/12 1:50 PM CDT:

S&P 500 up 0.95%,

Dow down 0.32%

Yes, I know these are very modest fluctuations of the S&P 500 and the Dow, just in case anyone is wondering since the stock market has been the big news Friday and Monday. I've been keeping an S&P 500 watch thread (and a Dow graph) at https://www.democraticunderground.com/111699775
which I update shortly after the close of the day (usually)

[republianmushroom]

1. The convicted felon is about to get his ass handed to him again.

The Canadians did it. Thank you Canada.

[turbinetree]

2. I can't wait for him to say that Boeing is the problem when it comes to aluminum..........

and also Lockheed, General Dynamics and these firms donated to the POS.........he really is a idiot...............and a complete ass...........

[progree]

3. Trump adding copper to trade protections, Commerce secretary says

03/12/25 2:16 PM ET

Commerce Secretary Howard Lutnick said President Trump plans to introduce steep tariffs on copper imports after he directed Cabinet officials to investigate the country’s ability to rely on its domestic supply chain for the metal instead of foreign trade partners.

“The president wants steel and aluminum in America. And let me be clear, nothing’s going to stop that until we’ve got a big, strong domestic steel and aluminum capability,” Lutnick said during a Wednesday appearance on Fox Business Networks’ “Varney & Co.” “And, by the way, he’s going to add copper to that mix too,” he continued. No date was given for the levies but the president is expected to announce a new round of reciprocal tariffs on April 2.

More: https://www.democraticunderground.com/10143416387
https://thehill.com/homenews/administration/5191208-trump-adding-copper-to-trade-protections-commerce-secretary-says/

"If they do this, there will be so much copper theft from home construction sites, telecomm lines, and HVAC systems, you would be lucky to be able to get anything that uses copper, repaired." - that thread's OP poster's comment

Street lights too.

[Fritz67]

4. How dare they fight back!!!

So unfair!!!