EU and Canada to impose tariffs in response to $49 billion against Trump's duties.

The EU and Canada have imposed their own tariffs in response to Trump's duties

Following the introduction of new tariffs on steel and aluminum by the Trump administration, the European Union and Canada announced the imposition of corresponding tariffs on American goods. These measures cost the EU about $28 billion and Canada $20.7 billion.

“We deeply regret this action. The threat to jobs and rising prices is unnecessary for anyone,” said European Commission President Ursula von der Leyen.

Canada has also raised tariffs on American goods by more than $20 billion. Both sides claim they are ready for negotiations, but the trade war will harm both.

Among the goods subject to the new tariffs are bourbon, Harley-Davidson motorcycles, and Levi's jeans. Canadian tariffs also apply to steel, aluminum, and other American import goods.

There is ongoing concern among economists that Brazil and Mexico have not yet implemented similar measures, as the trade conflict could lead to reduced economic growth and rising prices in the U.S.

U.S. Secretary of Commerce Howard Lutnick stated that the president intends to develop the domestic steel industry when he speaks of 'steel and aluminum', and that this development will not stop at anything.