11m ago
07.13 CET
Opening
summary
Hello and
welcome to our live coverage of the global response to Donald Trump’s new
tariffs. The 25% global tariffs on steel and aluminium came into effect at
midnight ET “with no exceptions or exemptions”.
The
European Commission responded almost immediately, saying it would impose
counter tariffs on €26bn ($28bn) worth of US goods from next month.
“We
deeply regret this measure,” European Commission chief Ursula von der Leyen
said in a statement about the US tariffs, as Brussels announced it would be
“launching a series of countermeasures” in response to the “unjustified trade
restrictions”.
Australian
deputy prime minister Richard Marles said on Wednesday the lack of exemptions
was “really disappointing”, calling tariffs “an act of kind of economic
self-harm”. He told radio station 2GB: “We’ll be able to find other markets for
our steel and our aluminium and we have been diversifying those markets.”
You can
read the full story here and stick with us for all the developments as they
unfold.
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