Trade war increases because Trump pledge more European Union tariffs

US President Donald Trump has promised more tariffs after its latest step to introduce import taxes on steel and aluminum, which inspires the European Union (EU) and Canada to vengeance to enter the US.

Trump said “of course” he would respond to the counterents, reiterating his warning to reveal “mutual” tariffs next month in countries around the world.

“Whatever they charge with us, we are charging them,” he said.

This danger marked another growth of a trade war, which has disturbed financial markets amid concerns on economies and consumers in many countries around the world, including the US.

On Wednesday, Trump proceeded with a plan to widen the US tariff on Steel and Aluminum, implemented a blanket duty of 25% and abolished the discount that the US had provided for shipment from some countries the first.

Following an order earlier this month, which increased the levy on Chinese imports to at least 20%on Chinese imports in the US.

Trump has also threatened tariffs – which are taxed taxes on goods entering a country – on a series of more specific items including copper, wood and cars.

Leaders in Canada and Europe call new metals taxes Inappropriate and returned with his own tariffs on a series of American products.

Other countries, which are the leading American suppliers of metals including UK, Australia, Mexico and Brazil, closed at any immediate vengeance.

Britain’s Prime Minister Sir Kire Stmper said, “Like everyone, I am disappointed to see the global tariff regarding steel and aluminum, but we will adopt a practical approach.”

“We are … to interact on a deal that covers and if we are successful, tariffs are included. But we will place all the options on the table.”

Canada said that from Thursday it will start charging 25% tax on C $ 30bn ($ 20bn; £ 16bn) of American products including steel, computer and sports equipment.

The European Union stated that it would increase its levy from April 1 to the price of American goods, including boats, bombons and motorbikes to € 26bn ($ 28bn; £ 22bn).

The European Union President Ursula von deer Leyen said that the intention of the response was “strong but proportional” and said that the European Union stood “ready to engage in a meaningful dialogue”.

“Tariffs are done. They are bad for business and worse for consumers,” he said, economic disruption warned the job at stake and send more prices to prices.

“Nobody needs – on both sides, neither in the European Union nor in the United States.”

Trump had said that he wants to promote American steel and aluminum production for a long time, but critics say that taxes on import of metals in immediate term will increase prices for American consumers and denty economic growth.

They are also expected to reduce the demand for steel and aluminum that is not made in the US – a blow elsewhere for the manufacturers of metals.

The European Union estimated that the latest American tariffs affect around 5% of its total exports to the US, while the US is a destination for about 90% of Canada’s steel and aluminum exports.

After a sharp fall of two days, shares were added to the US on Wednesday. Dow 0.2%closed, while S&P 500 increased to about 0.5%and Nasdaq jumped 1.2%.

In a presence at the White House with the Irish Prime Minister, TaCich Michael Martin, Trump said he did not plan to withdraw his business fighting, saying that he was “not happy” with the European Union’s trade policies.

He cited concerns about the legal punishments imposed on Apple and the rules claimed that they damaged us agricultural products and cars.

He said, “They are doing what they should do for the European Union, but it will be ill,” he said.

Repeating his danger to hit European cars with tariffs, he later said: “We are going to win that financial battle.”