Trade war escalates as Trump pledges more tariffs
Donald Trump’s tossing trade grenades again, and the world’s not taking it lying down. After blanketing steel and aluminum imports with a 25% tariff Wednesday, the U.S. president promised a “reciprocal” tariff blitz in April to mirror any counterattacks. “Whatever they hit us with, we’ll hit them,” he snapped, brushing off a growing global uproar. Canada’s incoming PM Mark Carney fired first, announcing $20 billion in tariffs Thursday on U.S. goods like sports gear and steel, demanding respect in talks. The EU’s Ursula von der Leyen followed, teeing up $28 billion in levies on American motorbikes and whiskey, calling it “strong but fair.”
Trump says he’s saving U.S. metal jobs, but food titans like Quaker Oats and Smucker’s are crying foul, pleading for exemptions on imports like spices and fruit they can’t source stateside. Prices are poised to spike, and foreign metal makers—like Canada, which feeds 90% of its steel to the U.S.—are reeling. Markets jittered Wednesday, with the S&P 500 clawing back gains as Trump, hosting Ireland’s Micheál Martin, railed against EU fines on Apple and farm rules. “They’re begging for a fight,” he sneered, hinting at car tariffs next. With the UK’s Keir Starmer playing coy and consumers braced for pain, this trade war’s heating up fast.