US President Donald Trump has pledged to impose more tariffs after his latest move to introduce import taxes on steel and aluminum entering the US, which has prompted retaliation from the European Union (EU) and Canada. Trump said “of course” he would respond to the countermeasures, repeating his warning to reveal “reciprocal” tariffs next month on countries around the world. Whatever they charge us with, we’re charging them, he said. The threat marked a further escalation of a trade war which has rattled financial markets amid concerns over the impact on the economies and consumers in many countries around the world, including the US. On Wednesday, Trump moved forward with a plan to widen US tariffs on steel and aluminum, imposing a blanket duty of 25% and ending exemptions that the US had previously granted for shipments from some countries. The same day, Trump also ordered duties on Chinese imports into the US to at least 20%. Trump has also threatened tariffs on a range of specific items, including copper, lumber, and cars.
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