Morning Briefing: Europe Edition – Navigating the Widening Trade War: E.U. and Canada Respond to U.S. Tariffs

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Morning Update: European Version

Thursday Update

An escalating trade conflict.

Authored by Justin

The European Union and Canada responded to President Trump's recent tariffs by imposing their own on American goods. This trade dispute escalated when the E.U. and Canada revealed new tariffs totaling billions of dollars on U.S. exports, shortly after Trump's duties on steel and aluminum imports were implemented.

The

The European Union announced that new tariffs would be implemented starting April 1 as a countermeasure to the approximately $26 billion in tariffs imposed by the United States. However, representatives from the EU stressed their willingness to negotiate an agreement.

The reply will be delivered in two stages. First, the tariff suspension that was initiated during President Joe Biden's administration will expire, leading to increased tariffs on billions of euros in goods such as boats, bourbon, and motorcycles. In the next phase, tariffs will be imposed on approximately 18 billion euros of additional items, although the specific products have not yet been determined.

The

The Canadian authorities announced plans to introduce additional tariffs targeting $20 billion in imports from the United States. These tariffs primarily focus on steel and aluminum but will also affect items such as tools, computers, sporting equipment, and cast iron products.

Below is a summary of all the tariffs implemented to date.

Additional partners

The United Kingdom has decided against taking retaliatory measures, with Prime Minister Keir Starmer aiming to secure a long-term trade agreement with the United States. Meanwhile, Australia's Prime Minister, Anthony Albanese, stated that his nation would refrain from implementing reciprocal tariffs, as such actions could negatively impact local consumers.

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