Trump threatens more tariffs after EU, Canada retaliate, Reuters reports

U.S. President Donald Trump threatened more tariffs, escalating a global trade war with further tariffs on EU goods, after Canada and the EU retaliated for trade barriers already erected by the U.S. president, Reuters’ Andrea Shalal, David Lawder and Jarrett Renshaw report. In retaliation for 25% tariffs on all U.S. steel and aluminum imports, the EU responded with tariffs on up to EUR 26B of U.S. exports, while Canada imposed C$29.8B in levies. Trump said he would impose additional penalties if the EU follows through with its plan to enact counter tariffs on some U.S. goods next month. “Whatever they charge us, we’re charging them,” Trump told reporters at the White House. Publicly traded companies in the steel and aluminum space include ArcelorMittal (MT), Cleveland-Cliffs (CLF), Nucor (NUE), Steel Dynamics (STLD) and U.S. Steel (X).