The US has fired the opening shot in a trade war with three of its biggest trading partners by levying tariffs on imports of steel and aluminium from the EU, Canada and Mexico.
The decision to impose tariffs from today on imports from longstanding US allies on national security grounds sets the stage for a round of tit-for-tat tariffs among some of the world’s largest economies just days ahead of a meeting of G7 leaders in Canada.
Jean-Claude Juncker, the European Commission president, said the EU would go ahead with plans to impose its own duties on US products such as motorcycles and peanut butter. “This is a bad day for world trade,” he said.
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