EU, China and Canada warn U.S. of countermeasures, as trade war heats up
Source: Axios
8 hours ago
Officials in the European Union, China and North American neighbor Canada say they're preparing countermeasures in response to President Trump's announcement of sweeping tariffs on U.S. imports.
Why it matters: A global trade war is heating up following Trump's announcement of a baseline 10% tariff on U.S. imports, with higher levies hitting China, the EU and elsewhere, which threatens to trigger stagflation with profound consequences for global economies, per Axios' Ben Berkowitz.
Driving the news: European Commission President Ursula von der Leyen announced plans Thursday for new measures in response to Trump's tariffs announcement a day earlier of an additional 20% tariffs imposed on EU imports. He hailed Wednesday as "Liberation Day" for the U.S.
The new tariffs are due to start next Wednesday, while a 25% auto levy on imports took effect Thursday. Representatives for the Trump administration did not immediately respond to Axios' requests for comment in the evening.
What they're saying: "We are already finalizing a first package of countermeasures in response to tariffs on steel," von der Leyen said during a visit to Samarkand, Uzbekistan.
"And we are now preparing for further countermeasures to protect our interests and our businesses if negotiations fail," she said. "There seems to be no order in the disorder, no clear path to the complexity and chaos that is being created."
Read more: https://www.axios.com/2025/04/03/trump-tariffs-canada-china-eu-trade-war-countermeasures
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