The European Union is gearing up to counter any new tariffs imposed by the U.S. on steel and aluminum imports. 🇪🇺⚔️🇺🇸 Washington has announced a hefty 25% duty on these materials and plans to align with tariffs that other countries currently enforce. This move has sparked fears of a potential trade war between the world's two largest economies.
Both the U.S. and EU boast the largest bilateral trade relationship globally, making any escalation a cause for concern. Officials from both sides are warning that such tariffs could lead to significant economic pain for industries and consumers alike across the Atlantic.
Stay tuned as this trade tension unfolds and impacts global markets. 📉🌍
Reference(s):
cgtn.com
