The European Commission said Europe was prepared to impose countermeasures after US President Donald Trump announced plans to double tariffs on imported steel and aluminium to 50 per cent, intensifying trade tensions with the EU. Brussels said the move undermines efforts to reach a negotiated solution and increases economic uncertainty. It warned that if no agreement is reached, expanded EU tariffs will take effect by July 14 or sooner if needed. Trump unveiled the measure during a speech in Pittsburgh, tying it to a $14.9 billion deal between Nippon Steel and US Steel. The White House said the new tariffs, which will also apply to aluminium, will take effect on Wednesday. Canada and Australia condemned the move, calling it harmful to industries and contrary to long-standing economic partnerships. The US, excluding the EU, imported 26.2 million tons of steel in 2024, according to the Commerce Department. Attribution: Reuters Subediting: M. S. Salama
